Scott Schechter Leases Retail Space To Lin & Daughters In Flatiron District At 55 West 26th Street
55 West 26th Street
Building Size
1,421 SF
Asset Type
Retail
Closing
Feb 11, 2025
About this deal
AI
The property involved in this transaction is a retail asset located at 55 West 26th Street in the Flatiron District. The lease type is a Modified Gross Lease for a total area of 1,421 square feet. The asking rent for this property is $211 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $211/ft
- Address: 55 West 26th Street
- Market: Flatiron District
- Lease Type: Modified Gross Lease
- Square Footage: 1,421
- Landlord: Scott Schechter
- Tenant: Lin & Daughters
- Landlord's Rep: Jason Pennington - Ripco
- Tenant's Rep: Noam Aziz & Carson Shahrabani - Meridian Capital Group
The transaction showcases the collaborative efforts of the brokers involved. Jason Pennington represents the landlord, Scott Schechter, while Noam Aziz and Carson Shahrabani are the representatives for the tenant, Lin & Daughters, through Meridian Capital Group.
On the Map
Retail
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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
75180.09%
Cash-on-Cash
-21486.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93