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40 Gold Street

Kyuramen Leases Retail Space At 40 Gold Street In Financial District For 10 Years
LEASEDRetail

Kyuramen Leases Retail Space At 40 Gold Street In Financial District For 10 Years

40 Gold Street

$70

$70/SF

Building Size

5,500 SF

Asset Type

Retail

Closing

Aug 1, 2024

AI

This retail asset is located at 40 Gold Street within the Financial District. The asking rent for this property is set at $70 per foot, encompassing a total area of 5,500 square feet. The lease agreement spans 10 years with an option, structured as a Modified Gross Lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $70/ft
  • Address: 40 Gold Street
  • Market: Financial District
  • Landlord: Werber Management
  • Tenant: Kyuramen
  • Landlord's Representative: Joshua Singer, Stephen Weber & Adam Heller - The Heller Organization
  • Tenant's Representative: Elvan Chou - The Real Brokerage
  • Lease Term: 10 year + option
  • Lease Type: Modified Gross Lease
  • Square Footage: 5,500 SF

The transaction involved multiple key players, including the landlord Werber Management and tenant Kyuramen. The representatives for the landlord were Joshua Singer, Stephen Weber, and Adam Heller from The Heller Organization, while Elvan Chou from The Real Brokerage represented the tenant in this agreement.

Players

Adam Heller

The Heller Organization

Broker

5 deals

Broker

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

226614.29%

Cash-on-Cash

-64767.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93