Jack Shainman Acquires Retail Asset In Tribeca, Manhattan For $18.2M
108 Leonard Street
$18,200,000
$910/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Jan 11, 2024
AI
The retail property located at 108 Leonard Street in Tribeca, Manhattan has been sold in a transaction. The property spans an area of 20,000 square feet and was sold for a price of $18,200,000, resulting in a price per square foot of $910. The sale was conducted between Jack Shainman as the buyer and El-Ad Group as the seller, with Art State LLC representing the buyer. The brokers involved in the transaction were Peter Braus, Cory Gahr, and Brad Schwarz from Lee & Associates.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $18,200,000
- Address: 108 Leonard Street
- Market: Tribeca, Manhattan
- Buyer: Jack Shainman
- Seller: El-Ad Group
- Buyer's Rep: Art State LLC
- Brokers: Peter Braus, Cory Gahr, and Brad Schwarz - Lee & Associates
- SF: 20,000
- PPSF: $910
The deal was finalized on 01/11/2024 and represents a significant transaction in the retail market of Tribeca, Manhattan.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93