Angelina Paris Leases Retail Space At 1115 Lexington Avenue In Lenox Hill
1115 Lexington Avenue, New York City, New York 10075, United States
Building Size
701 SF
Asset Type
Retail
Closing
Oct 11, 2022
AI
Angelina Paris has signed a lease for a retail space located at 1115 Lexington Avenue in the Lenox Hill market. The landlord of the property is Midwood Investment & Development. The tenant will be represented by Pierre Cadourcy, Hillel Horovitz, Alexander Boriskin, and Michael Lorber from Douglas Elliman. The landlord's representatives in the deal are Beth Rosen and Emily Simmonds from Ripco Real Estate. The property has an asking rent of $300 per square foot and a total area of 701 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 10/12/2022
- Address: 1115 Lexington Avenue
- Market: Lenox Hill
- Asking Rent: $300/ft.
- Square Footage: 701
This lease marks Angelina Paris's second location in New York City. Angelina Paris is a popular tea house, café, and boutique with over 30 locations worldwide. The establishment is well-known for its hot chocolate and iconic pastries. Pierre Cadourcy and Hillel Horovitz from The Michael Lorber Team of Douglas Elliman, co-founded by Michael Lorber and Alexander Boriskin, have exclusively represented the tenant in this deal.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · 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