Lexington Realty Leases Multifamily Space To Rafaels Market On Lexington Avenue For 10 Years

The property asset involved in this transaction is a multifamily building located at 1621 Lexington Avenue in the Harlem market. The lease is for a space measuring 1,000 square feet, with an asking rent of $72 per square foot. The lease term is set for 10 years and falls under a modified gross lease type.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $72/ft
• Lease Term: 10 Years
• Lease Type: Modified Gross Lease
• Address: 1621 Lexington Avenue
• Market: Harlem
• Landlord: Lexington Realty
• Tenant: Rafaels Market
• Broker: Aryeh Vilinsky - BH Realty

The individuals and companies involved in this lease transaction include the landlord, Lexington Realty, and the tenant, Rafaels Market, who will occupy the space under the terms of the agreement. Aryeh Vilinsky from BH Realty acted as the broker representing the interests of the landlord in this deal.