Amancio Ortega Gaona Of Zara Leases 18000 Square Feet Retail Space At 31 West 34th Street
31 West 34th Street
Building Size
18,000 SF
Asset Type
Retail
Closing
Jul 10, 2025
About this deal
AI
31 West 34th Street is a retail asset located in Manhattan, encompassing 18,000 square feet. This property has been leased to the tenant Amancio Ortega Gaona for Zara, contributing to the expansion of its presence in New York City.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 31 West 34th Street
- Market: Manhattan
- Landlord: El Fassi Realty
- Tenant: Amancio Ortega Gaona - Zara
This lease represents one of Manhattan’s most significant retail transactions for the quarter, with Zara's move further solidifying its NYC footprint under the representation of Amancio Ortega Gaona.
On the Map
Retail
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Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Deal FAQ
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