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261 11th Avenue

Convene Hospitality Group Leases 50000 Square Feet Event Space At 261 11th Avenue Manhattan
LEASEDRetail

Convene Hospitality Group Leases 50000 Square Feet Event Space At 261 11th Avenue Manhattan

261 11th Avenue

Building Size

50,000 SF

Asset Type

Retail

Closing

Oct 6, 2025

AI

The retail asset located at 261 11th Avenue in Manhattan, encompasses a total of 50,000 square feet spread across three floors. This property is within a landmarked building known as Terminal Warehouse, which boasts a history of 130 years.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 261 11th Avenue
  • Market: Manhattan
  • Landlord: Adam Frazier - Columbia Property Trust, David Levinson - L&L Holding Company, Eric Rubin - Cannon Hill Capital Partners
  • Tenant: Convene Hospitality Group

Convene Hospitality Group is set to open a new event space called The Mallory, under this lease agreement, with operations anticipated to begin in the second quarter of 2026.

Players

David Levinson

L&L Holding Company

Landlord

$46.8M

vol

6 deals

Landlord
CP
Cannon Hill Capital PartnersLandlord

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