Ferrari Leases 7,629 Square Feet At 425 Park Avenue With L&L Holding As Landlord

The retail asset located at 425 Park Avenue in Midtown East features a total area of 7,629 square feet and is associated with a lease transaction. The asset is notable for being the new location for Ferrari, which is relocating from its previous showroom directly across the street.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: Not specified
• Address: 425 Park Avenue
• Market: Midtown East
• Lease Term: 10-year lease
• Landlord: David Levinson & Robert Lapidus - L&L Holding
• Tenant: Benedetto Vigna - Ferrari
• Landlord's Representative: Giannina Brancato, Jonathan Tootell & Tanya Grimaldo - L&L Holding Company
• Tenant's Representative: Frank Recine & Patrick Smith - JLL

The transaction marks a significant deal for both landlord and tenant, with David Levinson and Robert Lapidus serving as the landlords and represented by Giannina Brancato, Jonathan Tootell, and Tanya Grimaldo from L&L Holding Company. On the tenant side, Benedetto Vigna, representing Ferrari, is assisted by Frank Recine and Patrick Smith of JLL.