Gym U NYC
Rare Triple-Net Lease in Manhattan
Marketing description
Generational Real Estate – High-Traffic Manhattan Location | Frontage on West 23rd Street, between 7th and 8th Avenue. 23rd Street is a major Manhattan thoroughfare, providing strong traffic visibility and consistent pedestrian activity in the heart of Chelsea.
Rare Triple-Net Lease in Manhattan | Opportunity provides the landlord with limited management responsibilities – Tenant is responsible for payment of real estate taxes, condo fees, and day-to-day upkeep.
Significant Tenant Investment – Scaled, Multi-Level Fitness Facility | The premises feature a capital-intensive buildout tailored to fitness use, representing substantial tenant investment and supporting long-term occupancy. Tenant operates a fullservice, three-level fitness facility, providing a significant presence in a dense Manhattan submarket.
Investment highlights
Surmount is pleased to present the exclusive listing for Gym U NYC located at 213 West 23rd Street, New York, NY. The site consists of roughly 27,000 rentable square feet of building space.
Gym U NYC is subject to a 10-year net lease which commenced 10/01/2022 and has over 6 years remaining. The current base rent is $786,763 with scheduled increases of 3% annually. In
addition, the tenant pays monthly percentage rent bringing the total NOI to $1,092,763. Reach out to listing agents for additional details.
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