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
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