Weber Realty Management Leases Retail Space To Upon The Palace At 319 Greenwich Street
319 Greenwich Street
$75
$75/SF
Building Size
6,500 SF
Asset Type
Retail
Closing
Nov 27, 2024
About this deal
AI
The property asset involved in this lease transaction is located at 319 Greenwich Street in the Tribeca market. This retail space comprises approximately 6,500 square feet and is subject to a 15-year modified gross lease. The asking rent for the space is set at $85 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $85/ft
- Address: 319 Greenwich Street
- Market: Tribeca
- Lease Term: 15 Years
- Lease Type: Modified Gross Lease
- Landlord: Weber Realty Management
- Tenant: Upon the Palace
- Landlord's Representative: Joshua Singer - The Heller Organization
- Tenant's Representative: Calvin Xu
This transaction features key individuals including Joshua Singer, who represents the landlord, Weber Realty Management, and Calvin Xu, representing the tenant, Upon the Palace. Their involvement is pivotal in facilitating the lease terms and finalizing the agreement.
On the Map
$75
$75/SF
Retail
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New York Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93