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346 Lexington Ave New York,...

Jumieka Leases Retail Space At 346 Lexington Avenue In New York City
LEASEDRetail

Jumieka Leases Retail Space At 346 Lexington Avenue In New York City

346 Lexington Ave New York, NY 10016, USA

$100

$100/SF

Building Size

4,500 SF

Asset Type

Retail

Closing

Jun 1, 2023

AI

The retail property located at 346 Lexington Avenue in New York City has been leased. The tenant, Jumieka, will occupy the space, which spans 4,500 square feet. The lease was facilitated by Newmark brokers Andrew Stern, Lucas Kooyman, and Adam Weinblatt. The asking rent for the property was $100 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 346 Lexington Avenue
  • Market: New York City
  • Tenant: Jumieka
  • Brokers: Andrew Stern, Lucas Kooyman, and Adam Weinblatt - Newmark
  • Asking Rent: $100/ft
  • Square Footage: 4,500

The lease deal was negotiated by Newmark brokers Andrew Stern, Lucas Kooyman, and Adam Weinblatt. They represented the tenant, Jumieka, in the transaction. The landlord of the property is Joseph Lucin. The lease agreement for the retail space at 346 Lexington Avenue marks an important transaction in the New York City market.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker

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

158630.00%

Cash-on-Cash

-45336.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93