Skinny Louie Leases Retail Space At Penn 1 In Midtown West With Broker Representation From KSR
Pennsylvania Plaza
$400
$400/SF
Building Size
1,387 SF
Asset Type
Retail
Closing
Mar 14, 2025
AI
The property involved in this lease transaction is a retail space located at 1 Pennsylvania Plaza in Midtown West. The asking rent for the property is $400 per square foot, encompassing a total square footage of 1,387. The landlord for this retail lease is Vornado.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $400/ft
- Square Footage: 1,387
- Address: PENN 1, 1 Pennsylvania Plaza
- Market: Midtown West
- Landlord: Vornado
- Tenant: Skinny Louie
- Lease Type: Retail Lease
- Brokers: Carolina Aziz, Ike Bibi & Madeleine Soffer - KSR
Carolina Aziz, Ike Bibi, and Madeleine Soffer from KSR represented the transaction. Skinny Louie is currently seeking additional sites in both Manhattan and Brooklyn, and they are open to submissions of potential locations at the provided email addresses.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
39657.50%
Cash-on-Cash
-11334.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93