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50 Lexington Ave, New York,...

Broadway Bodies Leases 1500 Square Feet At 50 Lexington Ave New York From Lex Tenants Corp
LEASED

Broadway Bodies Leases 1500 Square Feet At 50 Lexington Ave New York From Lex Tenants Corp

50 Lexington Ave, New York, NY, 10010

Building Size

1,500 SF

Asset Type

Closing

Nov 19, 2023

AI

The lease involves a property located at 50 Lexington Ave, New York, NY, 10010, within the New York market. The asset encompasses a total area of 1500 square feet. The landlord for this transaction is Lex Tenants Corp. Board of Directors.

Summary of transaction details:

This deal features Broadway Bodies as the tenant, represented by Joshua Gettler and Christopher Bruggers from New Street Realty Advisors, along with Matthew Gorman from CBRE. The involvement of these representatives highlights the collaborative effort in securing this lease agreement.

Players

Matthew Gorman

CBRE

Broker

$179.4M

vol

15 deals

Broker

New York CRE Market Snapshot

Boundary boundary · CRE · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93