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253 Church Street

ASG Equities Leases Retail Space To Locker Room Gallery In Tribeca For $120/ft
LEASEDRetail

ASG Equities Leases Retail Space To Locker Room Gallery In Tribeca For $120/ft

253 Church Street

$120

$120/SF

Building Size

3,111 SF

Asset Type

Retail

Closing

Mar 31, 2025

AI

The retail asset is located at 253 Church Street in the Tribeca market of Manhattan. The property spans a total of 3,111 square feet and was leased under a Modified Gross Lease at an asking rent of $120 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $120/ft
  • Square Footage: 3,111
  • Address: 253 Church Street
  • Market: Tribeca, Manhattan
  • Landlord: ASG Equities
  • Tenant: Locker Room Gallery
  • Landlord's Representative: Andrew Stern & Ravi Idnani - Newmark
  • Tenant's Representative: Cole Stapleton - Tungsten Property

This transaction involved key players in the real estate leasing sector, highlighting the roles of the landlord represented by Andrew Stern and Ravi Idnani from Newmark and the tenant represented by Cole Stapleton from Tungsten Property.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker
TP
Tungsten PropertiesBrokerage
AE
ASG EquitiesLandlord

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

132191.67%

Cash-on-Cash

-37780.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93