LEX Markets LLC announced that it had launched an IPO for a single retail and office property— 286 Lenox Ave. in New York City—that was open to virtually any size investor who could afford $250 for a single share.
The building is fully leased and stabilized with three tenants, including a Wells Fargo Bank branch, occupying the 18,759 square feet with 13,560 square feet of office space and 5,200 square feet of retail space, according to filings with the Securities and Exchange Commission.
The newly formed Delaware limited liability corporation 286 Lenox Partners is the legal entity that would acquire a membership interest in Regal 286 Lenox LLC, another Delaware limited liability company that owns and operates the property. Regal Capital Acquisitions is the manager of the building.
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