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
- 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.
Players
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
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93