Premium Goods Retailer Clarence Nathan Signs 10-Year Lease At 252 5th Avenue NYC

A premium goods retailer, Clarence Nathan, has leased a retail space at 252 5th Avenue in New York City. The property, which spans 1,000 square feet, is owned by Wan Soo Lee. The lease, facilitated by brokers Malcolm Louis Adams and Thomas Wright from Compass, has a duration of 10 years. The asking rent for the space is $88.42 per square foot, resulting in a total value of $898,737.37 over the lease term. The lease agreement also includes a 3% annual rent increase.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $898,737.37
• Tenant: Clarence Nathan - Premium Goods Retailer
• Landlord: Wan Soo Lee
• Brokers: Malcolm Louis Adams & Thomas Wright - Compass
• Address: 252 5th Avenue, New York City
• Market: New York City

In this deal, Clarence Nathan, a premium goods retailer, secured a lease for a retail space at 252 5th Avenue. The property, with a size of 1,000 square feet, is owned by Wan Soo Lee. The lease term is set for 10 years and includes an annual rent increase of 3%. Malcolm Louis Adams and Thomas Wright from Compass acted as the brokers for the transaction.