Mattress Firm Leases 3300 Square Feet At 1272 Lexington Ave With Newmark Brokers In New York
1272 Lexington Ave, New York, NY, 10...
Building Size
3,300 SF
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
The property asset involved in this transaction is located at 1272 Lexington Ave, New York, NY. It features a total area of 3,300 square feet. The transaction falls within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 1272 Lexington Ave, New York, NY
- Square Feet: 3,300
- Tenant: Mattress Firm
- Landlord: 1276 Lex Owner, LLC
- Tenant's Representative: Marc Frankel & Drew Weiss - Newmark
- Landlord's Representative: Mark Stempel - CityVest Realty Corp
This transaction involved representatives Marc Frankel and Drew Weiss from Newmark representing Mattress Firm, while Mark Stempel from CityVest Realty Corp represented the landlord, 1276 Lex Owner, LLC. The involvement of these individuals indicates a collaborative effort in finalizing the lease agreement.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · 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