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876 Lexington Avenue

Napoli Pizza Leases Retail Space At 876 Lexington Ave On Upper East Side
LEASEDRetail

Napoli Pizza Leases Retail Space At 876 Lexington Ave On Upper East Side

876 Lexington Avenue

$150

$150/SF

Building Size

1,400 SF

Asset Type

Retail

Closing

Oct 24, 2023

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

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.

Players

Albert Manopla

Kassin Sabbagh Realty

Broker

$4.3M

vol

83 deals

Broker

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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93