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Acquisitions

Extell sells retail condo at The Kent

200 East 95th Street (Credit: Extell)

Extell has agreed to sell a retail condo at 200 East 95th Street (AKA The Kent) to an unnamed buyer for $28.7 million, CO reported. The retail space features 12,796 SF at grade and a 9,767-square-foot lower level selling space.

  • Worth Noting: The New York City Department of Education operates a preschool center in 11,492 SF on the ground floor, while the remaining 1,304 square-foot ground floor space and entire 9,767-square-foot cellar is available for lease.
  • Existing revenue: The city pays $1.97 million annually ($171 a square foot) for the first five years of the lease, $2.17 million ($188 a square foot) annually for the following five years, and $2.38 million ($207 a square foot) for the 10th through 15th years of the lease.

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