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70 Gansevoort Street

Updated Oct 29, 2024

Saint Laurent Signs Lease For 13,000 SF Retail Space In Gansevoort Row, Meatpacking District, NYC
LEASEDRetail

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.

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Players

Saint Laurent
Saint LaurentTenant
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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

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