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
About this deal
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.
On the Map
Retail
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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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93