Adam Amsalem Of Black Spruce Management Leases Retail Space To St. Kilda Coffee In Hells Kitchen
340 West 49th Street
$160
$160/SF
Building Size
450 SF
Asset Type
Retail
Closing
May 31, 2025
AI
The property involved in the transaction is a retail asset located at 340 West 49th Street in the Hells Kitchen market. The space covers 450 square feet and has an asking rent of $160 per square foot. The lease term established is 10 years under a modified gross lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $160/ft
- Address: 340 West 49th Street
- Market: Hells Kitchen
- Asset Size: 450 SF
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Adam Amsalem - Black Spruce Management
- Tenant: St. Kilda Coffee
- Landlord's Representative: Aryeh Vilinsky - BH Realty
- Tenant's Representative: Nolan Weinberg - KSR
Key individuals in this transaction include Adam Amsalem representing Black Spruce Management as the landlord, while St. Kilda Coffee is the tenant. Aryeh Vilinsky from BH Realty acts as the landlord's representative, and Nolan Weinberg from KSR is the tenant's representative in this lease deal.
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
99143.75%
Cash-on-Cash
-28335.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93