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
- Property Type: Retail
- Transaction Amount: Not specified
- Tenant: Fame Pizza
- Landlord: Gorjian Acquisitions
- Brokers: Brandon Singer, Manu Wendum & John DiGangi - Retail By Mona
- Lease Type: Retail Lease
- Lease Term: Long Term
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
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