DM Group Signs 10-Year Retail Lease At 1325 5th Avenue With Landlord Rodney Propp

The retail asset located at 1325 5th Avenue in the South Harlem market features a lease agreement with an asking rent of $95 per square foot, encompassing a total area of 2,000 square feet. The lease term is set for 10 years and categorized as a Modified Gross Lease.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $95/ft
• Lease Term: 10 years
• Lease Type: Modified Gross Lease
• Landlord: Rodney Propp
• Tenant: DM Group
• Landlord's Representative: Ravi Idnani & Andrew Stern - Newmark
• Tenant's Representative: Jack Mosseri & Soloman Sasson - Silverline Group

This transaction involved key representations by Ravi Idnani and Andrew Stern of Newmark representing the landlord, while the tenant was represented by Jack Mosseri and Soloman Sasson from Silverline Group. Their roles were instrumental in facilitating this lease agreement in the competitive retail market.