GleasonsNYC Tavern Leases Retail Space In Columbus Circle For $432,000
312 West 58th Street, New York, NY 10019
Building Size
3,200 SF
Asset Type
Retail
Closing
Oct 31, 2018
About this deal
AI
Located at 312 West 58th Street in Columbus Circle, this retail property was recently leased. The transaction took place on 11/01/2018 between the tenant, Gleason's Tavern, and the landlord, Gorjian Realty Group. The lease was facilitated by Carolina Aziz and Yoni Hadar from the Kassin Sabbagh Realty agency. The property spans over 3,200 square feet and was leased at a rate of $135 per square foot.
Summary of transaction details:
- Property Type: Retail
- Date: 11/01/2018
- Tenant: Gleason's Tavern
- Landlord: Gorjian Realty Group
- Brokers: Carolina Aziz & Yoni Hadar (Kassin Sabbagh Realty)
- Address: 312 West 58th Street
- Market: Columbus Circle
- Lease rate: $135/ft.
- Square footage: 3,200
Carolina Aziz and Yoni Hadar played a significant role in representing both the tenant and the landlord in this lease. Gleason's Tavern, a local establishment, secured this retail space in a prime location in Columbus Circle. Gorjian Realty Group, the landlord, agreed to lease the property to Gleason's Tavern at a rate of $135 per square foot.
Players
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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