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Pizza Napoli signs 15-year lease for 2,500 sf at 383 Fifth Ave

Asking rent for the space began at $25,000 per month, and the location sits next door to dispensary NY Cannabis Company.

Reported · Written up by our desk · Commercial

Pizza Napoli is set to move into retail space at 383 Fifth Avenue in Midtown after signing a 2,500-square-foot lease just off East 36th Street, Commercial Observer reports. The tenant signed a 15-year lease for the location, where asking rent started at $25,000 per month, according to landlord broker Meridian Capital Group. Meridian said the site previously housed Famous Italian Pizza, framing the change as a quick reposition from one pizzeria to another with minimal downtime for the landlord. Meridian’s Noam Aziz said Fifth Avenue retail has shown strength for food and beverage users. Meridian’s Carson Shahrabani and Daniel Zacaim represented the landlords, and the tenant did not use outside brokers. Commercial Observer notes the operator is expected to draw on everyday foot traffic along Fifth Avenue, including proximity to NY Cannabis Company next door.

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