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1500 Old Country Road

Beyond Van Gogh: The Immersive Experience Leases Retail Space At 1500 Old Country Rd. In Westbury, Long Island
LEASEDRetail

Beyond Van Gogh: The Immersive Experience Leases Retail Space At 1500 Old Country Rd. In Westbury, Long Island

1500 Old Country Road

$40

$40/SF

Building Size

30,000 SF

Asset Type

Retail

Closing

Sep 30, 2022

AI

Located in Westbury, Long Island, the retail property at 1500 Old Country Rd. has recently been leased. Beyond Van Gogh: The Immersive Experience has signed a lease agreement with Lesso Mall Development, DBA Samanea New York, represented by Dominic Coluccio. The landlord's representatives, Herbert Agin, Matthew Kucker, and Jordan Barch of Colliers International, negotiated the deal. The property offers approximately 30,000 square feet of space and was listed at an asking rent of $40 per square foot.

Summary of transation details

  • Property Type: Retail
  • Transaction Date: 09/30/2022
  • Address: 1500 Old Country Rd.
  • Market: Westbury, Long Island
  • Landlord: Lesso Mall Development, DBA Samanea New York - Dominic Coluccio
  • Tenant: Beyond Van Gogh: The Immersive Experience
  • Landlord's Representatives: Herbert Agin, Matthew Kucker, and Jordan Barch - Colliers International
  • Asking Rent: $40/ft.
  • Square Footage: 30,000

The individuals involved in this transaction include Dominic Coluccio as the representative for the landlord, Lesso Mall Development, and Herbert Agin, Matthew Kucker, and Jordan Barch representing Colliers International. Beyond Van Gogh: The Immersive Experience will be occupying the retail space located at 1500 Old Country Rd., Westbury, Long Island at an asking rent of $40 per square foot.

Players

Matthew Kucker

Colliers

Broker

$35M

vol

7 deals

Broker
LD
Lesso Mall DevelopmentLandlord

Wellington Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93