Muss Development snags Touraine retail condo for $12M

Firm buys commercial property at Toll Brothers' building at 865 Lexington

Jason Muss and 132 East 65th Street
Jason Muss and 132 East 65th Street

Family-owned, Queens-based landlord Muss Development bought a retail condo at Toll Brothers’ high-end condominium building, the Touraine, for $12 million.

European café chain Le Pain Quotidien already inked a 15-year lease in the 5,000-square-foot space, located at 865 Lexington Avenue at East 65th Street. Cushman & Wakefield’s Gregory Tannor represented the tenant in the deal, while Jones Lang LaSalle brokers Yoav Oelsner and Glenn Tolchin represented Muss and the seller.

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“There is very little retail around there, and Madison Avenue rents are in the stratosphere,” Jason Muss, Muss Development principal, told Crain’s.

Muss sold a 130,000-square-foot mixed-use development site at 1558-1560 Third Avenue to real estate investment and development company DDG for $70 million in October, as The Real Deal reported. [Crain’s]Mark Maurer