Kalas Family Leases Retail Space To Five Flavors Restaurant On East 56th Street For 10 Years

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.