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389 6th Avenue, New York Ci...

Club Pilates Leases Retail Space In West Village At 389 6th Ave
LEASEDRetail

Club Pilates Leases Retail Space In West Village At 389 6th Ave

389 6th Avenue, New York City, New York 10014, United States

Building Size

1,615 SF

Asset Type

Retail

Closing

May 14, 2022

AI

An retail property located at 389 6th Ave. in the West Village has recently been leased. The lease was finalized on 05/15/2022. The property spans across 1,615 square feet and is situated in a prime location in the West Village market.

Summary of transation details

  • Property Type: Retail
  • Date: 05/15/2022
  • Address: 389 6th Ave.
  • Market: West Village
  • Asking Rent: $119/ft.
  • Square Footage: 1,615

The landlord of the property is Walter & Samuels. The tenant who has leased the property is Club Pilates. Club Pilates was represented by Luca DiCiero & Faisal Gilani from NY Space Finders. On the other hand, Walter & Samuels was represented by Lee Block & Michael Shkreli from Winick.

Players

Faisal Gilani

NY Space Finders

Broker

$27.4M

vol

46 deals

Broker
S
SamuelsLandlord
CP
Club PilatesTenant

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