Gucci Renews Lease At Trump Tower On Fifth Ave
725 5th Ave, New York, NY, USA
Building Size
14,080 SF
Asset Type
Retail
Closing
Feb 23, 2021
AI
The retail property located at 725 5th Ave. in New York City has recently been involved in a lease transaction.
Summary of transaction details
- Property Type: Retail
- Date: 02/24/2021
- Tenant: Gucci
- Landlord: Trump Organization
Gucci, the well-known luxury brand, has signed a lease renewal for the space at Trump Tower. The asking rent for this deal was undisclosed. However, according to a 2012 SEC filing, it was revealed that Gucci had been paying an annual rent of $18.7 million for the space, which equates to $384.40 per square foot.
The lease renewal at Trump Tower signifies the continued presence of Gucci in this prime retail location. With its prestigious address on 5th Ave., the property offers high visibility and foot traffic, making it an ideal choice for luxury brands like Gucci.
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