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54 West 39th Street, Manhat...

Wild & Reckless Wrestling Gym Leases Retail Space In Midtown South
LEASEDRetail

Wild & Reckless Wrestling Gym Leases Retail Space In Midtown South

54 West 39th Street, Manhattan, New York, NY, USA

Building Size

3,500 SF

Asset Type

Retail

Closing

Jun 30, 2021

AI

The retail property located at 54 West 39th Street in Midtown South has been leased. The lease transaction was completed on July 1, 2021, for the entire 2nd floor of the building. The property, spanning 3,500 square feet, is situated in a prime market for retail businesses.

Summary of transation details

  • Property Type: Retail
  • Date: 07/01/2021
  • Address: 54 West 39th Street (Entire 2nd floor)
  • Market: Midtown South

The tenant for this leased space is Wild & Reckless Wrestling Gym. The landlord of the property is Slavik Gofman. Keion Smith from Habendum Real Estate represented Wild & Reckless Wrestling Gym as their tenant's representative. On the other hand, Greg Goldberg and James Famularo from Meridian Retail Leasing served as the landlord's representatives in this leasing agreement.

The lease was negotiated at an asking rent of $48 per square foot, resulting in a total lease amount of approximately $168,000 per year.

Players

Greg Goldberg

Meridian Capital Group

Broker

$4.3M

vol

72 deals

Broker

Slavik Gofman

Landlord

9 deals

Landlord

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