Lead Bar Leases Retail Space In Chelsea's 269 West 23rd Street
269 West 23rd Street, New York City, New York 10011, United States
Building Size
2,200 SF
Asset Type
Retail
Closing
May 31, 2022
About this deal
AI
The retail property located at 269 West 23rd Street in Chelsea has been leased. The property, spanning 2,200 square feet, was leased by Lead Bar. The landlord, Fifth Jam Development represented by Alan Getz, entered into the lease agreement with Lead Bar. The deal was facilitated by Claude Kolb of KSR.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Asking Rent: $175/ft.
- Square Footage: 2,200
- Address: 269 West 23rd Street
- Market: Chelsea
The lease agreement for the retail property was executed on 06/01/2022. Claude Kolb of KSR served as the representative for Lead Bar in the deal, while Alan Getz represented Fifth Jam Development as the landlord. The lease initially asked for a rent of $175 per square foot.
Players
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Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93