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59 Maiden Lane

Fitness International Secures Significant Retail Lease At 59 Maiden Lane In Financial District
LEASEDRetail

Fitness International Secures Significant Retail Lease At 59 Maiden Lane In Financial District

59 Maiden Lane

Building Size

36,650 SF

Asset Type

Retail

Closing

Nov 26, 2023

AI

Fitness International has secured a significant retail lease for its new "Club Studio" concept at 59 Maiden Lane in the Financial District. The space, covering 36,650 square feet, will replace the previous Zeytuna food market. The property is owned by AmTrust RE and is located at the address 59 Maiden Lane.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not available
  • Square Footage: 36,650
  • Address: 59 Maiden Lane
  • Market: Financial District

The landlord for this lease is Jonathan Bennett, representing AmTrust RE. The tenant, Fitness International, was assisted by brokers Chase Welles and John Kalamaras from RealSource Group. On the landlord's side, the representatives were Brandon Miller, David Abrams, Eliot Goldschmidt, and Jeff Jacobson from Masonre.

Players

Eliot Goldschmidt

Masonre

Broker

$17.3M

vol

11 deals

Broker
Jonathan Bennett

Jonathan Bennett

AmTrust RE

Landlord

$322.9M

vol

10 deals

Landlord

New York Retail Market Snapshot

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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