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Acquisitions

Shaun Ajodan acquires 157 Lexington Avenue

157-159 Lexington Avenue (Credit: Google Maps)

Shaun Ajodan has acquired 157 Lexington Avenue from the Tsoumpas Group for $11.5 million, according to public records. The Kips Bay mixed-use building spans 12,452 square feet and contains 13 units.

Dig Deeper: The property contains 12 apartments and one commercial unit, which is occupied by Penelope Restaurant.

Acquisition financing: The buyer secured a $5 million loan from Northfield Bank to close the deal.

Location: The property is located between 29th and 30th Streets, three blocks from both the 33 Street and 28 Street Subway Stations, with access to the 4 and 6 trains. It sits five blocks from both the Empire State Building and Flatiron Building.

Brokers: The deal was brokered by Clint Olsen, Brendan Maddigan, Stephen Palmese, Ethan Stanton, Winfield Clifford, and Michael Mazzara of JLL.

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