Kevin Nassimi & Arman Noghreh Lease Retail Space To Isabel Sullivan Gallery In Tribeca, Manhattan
39 Lispenard Street
$110
$110/SF
Building Size
2,150 SF
Asset Type
Retail
Closing
Nov 27, 2023
AI
The retail space located at 39 Lispenard St. in Tribeca, Manhattan has been leased. The property spans 2,150 square feet and was leased by Isabel Sullivan Gallery. The lease transaction was facilitated by Andrew Stern of Newmark, representing the landlord Kevin Nassimi and Arman Noghreh. Sarah Shannon of Sinvin Real Estate represented the tenant, Isabel Sullivan Gallery. The asking rent for the space was $110 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 39 Lispenard St., Tribeca, Manhattan
- Market: Tribeca, Manhattan
- Square Footage: 2,150
- Landlord: Kevin Nassimi & Arman Noghreh
- Tenant: Isabel Sullivan Gallery
- Landlord's Rep: Andrew Stern - Newmark
- Tenant's Rep: Sarah Shannon - Sinvin Real Estate
- Asking Rent: $110/ft
The lease transaction for the retail space at 39 Lispenard St. was successfully completed. Andrew Stern of Newmark represented the landlords, Kevin Nassimi and Arman Noghreh, in the deal. Sarah Shannon of Sinvin Real Estate acted as the tenant's representative for Isabel Sullivan Gallery. This lease provides an opportunity for the gallery to establish a presence in the vibrant Tribeca 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
144209.09%
Cash-on-Cash
-41215.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93