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70 Gansevoort Street

Saint Laurent Leases 13,000-Sq-Ft Retail Space In Meatpacking District
LEASEDRetail

Saint Laurent Leases 13,000-Sq-Ft Retail Space In Meatpacking District

70 Gansevoort Street & 74 Gansevoort Street

$500

$500/SF

Building Size

26,000 SF

Asset Type

Retail

Closing

Sep 25, 2023

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.

Players

Taylor Reynolds

Cushman & Wakefield

Broker

6 deals

Broker

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