Extell Development Leases Retail Space To The Flowery In Midtown For 10 Years At $200/ft
LEASED
$200
New York
See Similar DealsRetail3,750 SF
Leased 01/08/2025
LEASED
Extell Development Leases Retail Space To The Flowery In Midtown For 10 Years At $200/ft
854 7th Avenue
See Similar DealsRetail3,750 SF
Leased 01/08/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$200
Total Square Footage:3,750 SF
Transaction Type:Lease
This retail lease transaction involves a property located at 854 7th Avenue in the Midtown market. The asking rent is $200 per square foot for a total space of 3,750 square feet. The lease term is set for 10 years and is categorized as a single net lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $200/ft
- Lease Term: 10 Years
- Lease Type: Single Net Lease
- Landlord: Extell Development
- Tenant: The Flowery
- Brokers: Michael Segerman & Roy Abraham - Current Real Estate Advisors
Michael Segerman and Roy Abraham from Current Real Estate Advisors facilitated this lease, representing both the landlord and the tenant in the transaction. Their involvement is crucial in navigating the leasing process between the parties for this retail asset.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$859,790.95
Total Lease Value
$8,597,909.48
Net Landlord Cash Flow$859,790.95
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