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112 Duane Street, New York ...

Bureau Gallery Leases Retail Space At 112 Duane Street In New York City
LEASEDRetail

Bureau Gallery Leases Retail Space At 112 Duane Street In New York City

112 Duane Street, New York City, New York 10007, United States

$120

$120/SF

Building Size

3,600 SF

Asset Type

Retail

Closing

Mar 14, 2023

AI

112 Duane Street in New York City has recently been leased for a period of 12 years and 4 months. The retail property, spanning 3,600 square feet, was leased by Bureau Gallery from the landlord, Jeffrey Siegel. The transaction was facilitated by the landlord's representatives, Andrew Stern and Scott Zinovoy of Newmark, and the tenant's representative, Steven Gurton of R New York. The lease was finalized on March 14, 2023, with an asking rent of $120 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Address: 112 Duane Street, New York City
  • Market: New York City
  • Square Footage: 3,600 sq ft

The landlord's representatives, Andrew Stern and Scott Zinovoy of Newmark, played a crucial role in finalizing the lease agreement. Steven Gurton of R New York served as the tenant's representative throughout the negotiation process.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker
Jeffrey Siegel

Jeffrey Siegel

Landlord

$26.1M

vol

5 deals

Landlord
BG
Bureau GalleryTenant

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

132191.67%

Cash-on-Cash

-37780.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93