Nicole Franques Leases Retail Space To SG Thai At 321 West 51st Street For $90 Per Ft
321 West 51st Street
$90
$90/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
May 27, 2026
AI
The property asset involved in this lease transaction is located at 321 West 51st Street within the Theatre District. The retail asset spans 5,000 square feet and has an asking rent of $90 per foot. The lease term is set for 15 years, and it operates under a Modified Gross Lease structure.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $90/ft
- Lease Term: 15 years
- Address: 321 West 51st Street
- Market: Theatre District
- Landlord: Nicole Franques
- Tenant: SG Thai
- Brokers: Desi Avidane - Investment Property Realty Group, Ben Biberaj - IPRG Retail Leasing
The key individuals involved in the transaction are the landlord, Nicole Franques, and the tenant, SG Thai. The transaction has been facilitated by two brokers, Desi Avidane and Ben Biberaj, representing Investment Property Realty Group and IPRG Retail Leasing, respectively.
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
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93