Saint Laurent Leases 13,000-Sq-Ft Retail Space In Meatpacking District
70 Gansevoort Street & 74 Gansevoort Street
Building Size
13,000 SF
Asset Type
Retail
Closing
Sep 25, 2023
About this deal
AI
Saint Laurent is set to open a flagship store in Manhattan's Meatpacking District. The retail space, located at 70-74 Gansevoort St, spans 13,000 square feet and has been leased for a term of 15 years. The deal was secured with an asking rent of over $500 per square foot.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $500 per square foot
- Square Footage: 13,000
- Address: 70-74 Gansevoort Street
- Market: Meatpacking District, Manhattan
Jared Epstein and Jake Bank of Aurora Capital Associates and William Gottlieb Real Estate are the landlords of the property. Cushman & Wakefield served as the tenant's representatives in the deal, with Jason Greenstone, Michael O'Neill, and Taylor Reynolds leading the negotiations.
On the Map
Retail
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Players
Gansevoort 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
31726.00%
Cash-on-Cash
-9067.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93