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412 West 15th Street

STK Leases 12,176-SF Retail Space At 412 West 15th Street With Landlord Keith Gelb
LEASEDRetail

STK Leases 12,176-SF Retail Space At 412 West 15th Street With Landlord Keith Gelb

412 West 15th Street

Building Size

12,176 SF

Asset Type

Retail

Closing

Oct 23, 2025

AI

A retail space measuring 12,176 square feet located at 412 West 15th Street in the Chelsea market of Manhattan has been leased. The asking rent for this property was set at $1.9 million per year.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $1,900,000/Year
  • Address: 412 West 15th Street
  • Market: Chelsea, Manhattan
  • Landlord: Keith Gelb - Rockpoint
  • Tenant: STK
  • Brokers: Steven Soutendijk, Kenji Ota & Neil Seth - Cushman & Wakefield

This long-term lease agreement was made for a space that previously housed Salt Bae, highlighting a significant shift in tenancy in the high-profile location.

Players

Neil Seth

Cushman & Wakefield

Broker

10 deals

Broker
Rockpoint Group
Rockpoint GroupLandlord

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