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
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