facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

50 Lexington Avenue

50 Lexington Avenue Retail Lease By 50 Lexington Variety Store Inc. With Tenant's Rep Garrett Kelly - Meridian Retail Leasing
LEASEDRetail

50 Lexington Avenue Retail Lease By 50 Lexington Variety Store Inc. With Tenant's Rep Garrett Kelly - Meridian Retail Leasing

50 Lexington Avenue

Building Size

1,500 SF

Asset Type

Retail

Closing

Apr 4, 2022

AI

Located at 50 Lexington Avenue in the Flatiron market, this retail property has recently been leased. The transaction took place on April 5, 2022, and involved a lease agreement between the landlord and tenant.

Summary of transaction details

  • Property Type: Retail
  • Address: 50 Lexington Avenue
  • Market: Flatiron
  • Tenant: 50 Lexington Variety Store Inc.
  • Tenant's Representative: Garrett Kelly - Meridian Retail Leasing
  • Landlord's Representatives: Kevin West & John Roesch - Meridian Retail Leasing
  • Asking Rent: $148/ft.
  • Square Footage: 1,500

The tenant, 50 Lexington Variety Store Inc., was represented by Garrett Kelly of Meridian Retail Leasing. On the other hand, the landlord was represented by Kevin West and John Roesch, also from Meridian Retail Leasing. This lease agreement was for a retail space measuring approximately 1,500 square feet, with an asking rent of $148 per square foot.

Players

John Roesch

Meridian Capital Group

Broker

97 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93