facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

1115 Lexington Avenue, New ...

Angelina Paris Leases Retail Space At 1115 Lexington Avenue In Lenox Hill
LEASEDRetail

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

Michael Lorber

Douglas Elliman

Broker

$262.5M

vol

38 deals

Broker
Midwood Investment & Development
Midwood Investment & DevelopmentLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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