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391 6th Avenue, Brooklyn, N...

OrangeTheory Fitness Leases Retail Space In Greenwich Village At 391 6th Ave
LEASEDRetail

OrangeTheory Fitness Leases Retail Space In Greenwich Village At 391 6th Ave

391 6th Avenue, Brooklyn, NY 11215

Building Size

3,300 SF

Asset Type

Retail

Closing

Feb 17, 2020

AI

OrangeTheory Fitness has leased a retail space at 391 6th Ave in Greenwich Village. The lease transaction took place on February 17, 2021. The property is a retail asset with a total area of 3,300 square feet. The asking rent for the space was $145 per square foot.

Summary of transation details

The deal was facilitated by brokers Albert Halawani, Adam Krell, Albert Manopla, Michael Shkreli, and Lee Block. The tenant, OrangeTheory Fitness, leased the space from landlord Walter Samuels. The lease agreement was secured at an asking rent of $145 per square foot.

Players

Albert Halawani

Kassin Sabbagh Realty

Broker

$445M

vol

49 deals

Broker
David Berley

David Berley

Walter & Samuels Inc.

Landlord

$6M

vol

6 deals

Landlord
OF
OrangeTheory FitnessTenant

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