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27 W 24th St, New York, NY,...

KENDALL & KYLIE Lease Retail Space At 27 W 24th St, New York
LEASEDRetail

KENDALL & KYLIE Lease Retail Space At 27 W 24th St, New York

27 W 24th St, New York, NY, 10010

Building Size

2,600 SF

Asset Type

Retail

Closing

Jul 5, 2016

AI

The retail property located at 27 West 24th St, New York, NY, 10010, encompassing 2,600 square feet, was involved in a lease transaction. KENDALL + KYLIE, the clothing line by Kendall and Kylie Jenner, leased the space. The tenant was represented by Matthew Cohen of The Lansco Corp, while the landlord, The Kaufman Organization, was represented in-house by Ian Norris and Aron Orbach.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Tenant: KENDALL + KYLIE
  • Tenant's Rep: Matthew Cohen
  • Landlord: The Kaufman Organization
  • Square Feet: 2600
  • Market: New York
  • Address: 27 W 24th St, New York, NY, 10010

Notable individuals involved in the deal included Matt Cohen from The Lansco Corp representing the tenant, KENDALL + KYLIE. On the other side, the landlord, The Kaufman Organization, was represented by Ian Norris and Aron Orbach in-house. The transaction, which took place on July 5, 2016, brought together these key figures to facilitate the lease agreement for the retail space.

Players

Matthew Cohen

Maverick Commercial Mortgage

Broker

$5M

vol

5 deals

Broker
Kaufman Organization
Kaufman OrganizationBrokerage
Steven Kaufman

Steven Kaufman

Kaufman Organization

Landlord

$78M

vol

6 deals

Landlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93