facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

318 West 39th Street

Christian Pineda Of Newmark Represents Los Tacos No. 1 In 10-Year Lease At 318 West 39th Street
LEASEDRetail

Christian Pineda Of Newmark Represents Los Tacos No. 1 In 10-Year Lease At 318 West 39th Street

318 West 39th Street

Building Size

9,800 SF

Asset Type

Retail

Closing

Jan 10, 2025

AI

The transaction involves a retail asset located at 318 West 39th Street in the Garment District. The property spans a total of 9,800 square feet, specifically serving as a commissary kitchen. Los Tacos No. 1 has signed a lease agreement for this space to support its Times Square location and produce tortillas and chips for its restaurants.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 318 West 39th Street
  • Market: Garment District
  • Landlord: Eric Gural & Brian Steinwurtzel - GFP Real Estate
  • Tenant: Christian Pineda - Los Tacos No. 1
  • Landlord's Representative: Matthew Mandell - GFP Real Estate
  • Tenant's Representative: Neal Ohm - Newmark
  • Lease Duration: 10 years

The lease transaction involved key representatives from both parties. Eric Gural and Brian Steinwurtzel are the landlords, representing GFP Real Estate. On the tenant side, Christian Pineda, associated with Los Tacos No. 1, was represented by Neal Ohm from Newmark, while Matthew Mandell from GFP Real Estate represented the landlords.

Players

Matthew Mandell

GFP Real Estate

Broker

$75M

vol

21 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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