A Retail Space Leased To TENJOU GROUP At 25 West 23rd Street For $89/ft
25 West 23rd Street
Building Size
4,700 SF
Asset Type
Retail
Closing
Sep 25, 2024
About this deal
AI
The property asset involved in this transaction is a retail space located at 25 West 23rd Street in the Flatiron market. The leased area covers 4,700 square feet, with an asking rent of $89 per square foot. The lease type is a Single Net Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $89/ft
- Lease Type: Single Net Lease
- Tenant: TENJOU GROUP
- Landlord's Representative: Steven Politis
- Tenant's Representative: Uemgee Hwang - Lee & Associates
This transaction includes notable individuals representing both the landlord and the tenant. Steven Politis represents the landlord, while Uemgee Hwang, affiliated with Lee & Associates, represents the tenant, TENJOU GROUP.
On the Map
Retail
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Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
178235.96%
Cash-on-Cash
-50940.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93