Kalas Family Leases Retail Space To Five Flavors Restaurant On East 56th Street For 10 Years
LEASED
$96
New York
See Similar DealsRetail2,500 SF
Leased
LEASED
Kalas Family Leases Retail Space To Five Flavors Restaurant On East 56th Street For 10 Years
303 East 56th Street
See Similar DealsRetail2,500 SF
Leased
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$96
Total Square Footage:2500 SF
Transaction Type:Lease
This retail asset is located at 303 East 56th Street in the Midtown East market. The total square footage is 2,500, with an asking rent of $96 per square foot. The lease agreement has a term of 10 years and is structured as a modified gross lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $240,000
- Landlord: Kalas Family
- Tenant: Five Flavors Restaurant
- Brokers: Ben Biberaj, Brandon Efap & Desi Avidane - IPRG Retail Leasing
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
Key individuals involved in the transaction include Ben Biberaj, Brandon Efap, and Desi Avidane, representing the landlord and tenant in this retail lease agreement. They are associated with IPRG Retail Leasing, which facilitated the leasing process for both parties.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$275,133.10
Total Lease Value
$2,751,331.03
Net Landlord Cash Flow$275,133.10
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