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31 Union Square West

Flight Club Signs Long Term Retail Lease At 31 Union Square West With Dere Properties
LEASEDRetail

Flight Club Signs Long Term Retail Lease At 31 Union Square West With Dere Properties

31 Union Square West

$350

$350/SF

Building Size

11,000 SF

Asset Type

Retail

Closing

Feb 5, 2025

AI

The retail asset located at 31 Union Square West in the Flatiron District consists of 11,000 square feet. The asking rent for this property is set at $350 per square foot. The transaction involves a long-term retail lease agreement.

Summary of transaction details:

The deal is represented by brokers from Retail By Mona and CBRE, facilitating the agreement between the landlord, Dere Properties, represented by the Ellis Family, and the tenant, Flight Club.

Players

Brandon Singer

Retail By Mona

Broker

$84.3M

vol

59 deals

Broker

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

45322.86%

Cash-on-Cash

-12953.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93