Napoli Pizza Leases Retail Space At 876 Lexington Ave On Upper East Side
876 Lexington Avenue
Building Size
1,400 SF
Asset Type
Retail
Closing
Oct 24, 2023
About this deal
AI
Located at 876 Lexington Ave in the desirable Upper East Side market, a retail property has recently been leased. The property spans 1,400 square feet and was leased through a Ground Lease agreement. The asset is now occupied by Napoli Pizza, a well-known tenant in the area.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 876 Lexington Ave
- Market: Upper East Side
- Landlord: Jeffrey Stern - Harlington Realty Co
- Tenant: Napoli Pizza
- Brokers: Albert Manopla, Jack Khaski, David Sabbagh, David Green & Jack Mishaan - KSR
- Asking Rent: $150/ft
In this transaction, the landlord, Jeffrey Stern of Harlington Realty Co, successfully leased the retail property to Napoli Pizza. The leasing process was facilitated by a team of brokers including Albert Manopla, Jack Khaski, David Sabbagh, David Green, and Jack Mishaan from KSR. The deal was finalized through a Ground Lease, providing long-term occupancy for the tenant.
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Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93