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1361 Lexington Ave, New Yor...

Paola's Restaurant Leases 800 SF Mixed-Use Space At 1361 Lexington Avenue In Carnegie Hill - James Famularo, Meridian Capital Group
LEASEDMixed-use

Paola's Restaurant Leases 800 SF Mixed-Use Space At 1361 Lexington Avenue In Carnegie Hill - James Famularo, Meridian Capital Group

1361 Lexington Ave, New York, NY 10128, USA

Building Size

800 SF

Asset Type

Mixed-use

Closing

Sep 27, 2020

AI

The mixed-use property located at 1361 Lexington Avenue in Carnegie Hill recently closed a lease deal. The landlord, Laura Lemle, agreed to an asking rent of $210 per square foot for the 800-square-foot space. The tenant, Paola's Restaurant, will occupy the premises. The lease transaction was facilitated by broker James Famularo from Meridian Capital Group.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: N/A
  • Address: 1361 Lexington Avenue
  • Market: Carnegie Hill
  • Asking Rent: $210 per square foot
  • Square Footage: 800
  • Tenant: Paola's Restaurant
  • Landlord: Laura Lemle
  • Broker: James Famularo - Meridian Capital Group

James Famularo, representing Meridian Capital Group, played a crucial role in closing the lease deal between landlord Laura Lemle and tenant Paola's Restaurant for the 800-square-foot space at 1361 Lexington Avenue in Carnegie Hill.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

365 deals

Broker

Laura Lemle

Meridian Capital Group

Landlord

$8M

vol

5 deals

Landlord

Laura Lemle

Meridian Capital Group

Tenant

$8M

vol

5 deals

Tenant
Meridian Capital Group
Meridian Capital GroupTenant

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · 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