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958 Lexington Avenue

Larry Marolda Leases Retail Space At 958 Lexington Avenue To Boba Whale For $260 Per Ft
LEASEDRetail

Larry Marolda Leases Retail Space At 958 Lexington Avenue To Boba Whale For $260 Per Ft

958 Lexington Avenue

$260

$260/SF

Building Size

300 SF

Asset Type

Retail

Closing

Mar 3, 2025

AI

The property asset involved in this transaction is a retail space located at 958 Lexington Avenue in the Upper East Side market. The lease involves a modified gross lease agreement for a space measuring 300 square feet, with an asking rent of $260 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $260/ft
  • Address: 958 Lexington Avenue
  • Market: Upper East Side
  • Asset Type: Retail
  • Landlord: Larry Marolda
  • Tenant: Boba Whale
  • Lease Type: Modified Gross Lease
  • Square Footage: 300
  • Brokers: James Famularo, Kyle Fink & Asher Schwartz - Meridian Capital Group

This transaction was facilitated by brokers James Famularo, Kyle Fink, and Asher Schwartz from Meridian Capital Group, representing both the landlord and tenant in this leasing agreement.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 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

61011.54%

Cash-on-Cash

-17437.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93