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Morris Bailey Of JEMB Realty Leases 55,000 Sq. Ft. To Horacio Barbeito Of Old Navy
LEASED
New York
See Similar DealsRetail55,000 SF
Leased 05/09/2025
LEASED
Morris Bailey Of JEMB Realty Leases 55,000 Sq. Ft. To Horacio Barbeito Of Old Navy
50 West 34th Street
See Similar DealsRetail55,000 SF
Leased 05/09/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:55,000 SF
Transaction Type:Lease
The asset involved in the transaction is a retail space located at 50 West 34th Street in Midtown South, encompassing a total of 55,000 square feet across two floors. The transaction marks a significant event in the retail market, being NYC’s largest retail lease of 2025.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Lease Term: 15-year lease
- Landlord: Morris Bailey - JEMB Realty
- Tenant: Horacio Barbeito - Old Navy
Morris Bailey represents JEMB Realty and is the landlord for this retail lease, while Horacio Barbeito represents Old Navy as the tenant. Old Navy is relocating one block east from its current location, where it previously operated an 78,000 square foot store.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$3,152,566.81
Total Lease Value
$31,525,668.11
Net Landlord Cash Flow$3,152,566.81
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