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50 Lexington Avenue

Gorjian Acquisitions Leases Retail Space To Fame Pizza At 50 Lexington Avenue In Gramercy, Manhattan
LEASEDRetail

Gorjian Acquisitions Leases Retail Space To Fame Pizza At 50 Lexington Avenue In Gramercy, Manhattan

50 Lexington Avenue

$400

$400/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

Jan 16, 2024

AI

Located in Gramercy, Manhattan, 50 Lexington Avenue is a retail property that recently went through a lease transaction. The tenant, Fame Pizza, signed a long-term lease agreement with the landlord, Gorjian Acquisitions. The lease type is a retail lease, and the asking rent was set at $400 per square foot for a space measuring 1,000 square feet.

Summary of transaction details

The deal was facilitated by the brokerage team consisting of Brandon Singer, Manu Wendum, and John DiGangi, who represented the tenant in the transaction. Their agency, Retail By Mona, played a crucial role in bringing Fame Pizza and Gorjian Acquisitions together to negotiate and finalize the lease agreement.

Players

Brandon Singer

Retail By Mona

Broker

$84.3M

vol

59 deals

Broker
GA
Gorjian AcquisitionsLandlord

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

39657.50%

Cash-on-Cash

-11334.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93