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
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