Saint Laurent Signs Lease For 13,000 SF Retail Space In Gansevoort Row, Meatpacking District, NYC
70 Gansevoort Street & 04 Gansevoort Street
Building Size
13,000 SF
Asset Type
Retail
Closing
Sep 21, 2023
About this deal
AI
Saint Laurent, under the leadership of Francesca Bellettini, is expanding its presence in New York City with a lease agreement for 13,000 square feet of retail space in the Meatpacking District's Gansevoort Row. The property, located at 70-04 Gansevoort Street, offers ample space for the luxury fashion brand to showcase its products and attract customers. This retail space presents an exciting opportunity for Saint Laurent to further establish its brand in the bustling Meatpacking District.
Summary of transaction details
- Property Type: Retail
- Square Footage: 13,000
- Address: 70-04 Gansevoort Street
- Market: Meatpacking District
Jared Epstein, representing Aurora Capital Associates and William Gottlieb Real Estate, serves as the landlord for this lease agreement. With his expertise in the real estate industry, Epstein has facilitated this expansion opportunity for Saint Laurent. Francesca Bellettini, the CEO of Saint Laurent, leads the negotiations from the tenant's side. Under her guidance, the luxury fashion brand has strategically chosen this location to enhance its foothold in New York City. This deal represents the collaborative efforts of Epstein, Bellettini, and their respective teams, highlighting their commitment to mutual success in the retail market.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93