Amsale Extends Lease For 12,500 SF Retail Showroom At 318 West 39th Street In New York City
318 West 39th Street New York, New York 10018, USA
Building Size
12,500 SF
Asset Type
Retail
Closing
Jun 6, 2023
About this deal
AI
Amsale, the bridal wear designer, has secured a 10-year lease extension for its 12,500-square-foot showroom located at 318 West 39th Street in New York City. The retail space is owned by GFP Real Estate, with Matthew Mandell representing the landlord.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not available
- Square Footage: 12,500
- Address: 318 West 39th Street, New York City
- Market: New York
The lease extension allows Amsale to continue operating its showroom in the heart of New York City, providing a prime location for potential customers. This deal signifies Amsale's commitment to the retail space and its confidence in the market.
Players
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