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3225 Third Ave & 80 Bruckne...

Bright Beginnings Leases 20,875 SF Day Care Space In Melrose And Mott Haven, Bronx
LEASEDPackage Deal

Bright Beginnings Leases 20,875 SF Day Care Space In Melrose And Mott Haven, Bronx

3225 Third Ave & 80 Bruckner Blvd

$50

$50/SF

Building Size

20,875 SF

Asset Type

Package Deal

Closing

Sep 15, 2023

AI

Two properties in the Bronx, located at 3225 Third Avenue in Melrose and 80 Bruckner Boulevard in Mott Haven, have been leased in a package deal. The landlord for these properties is Peter Fine, and the tenant is Bright Beginnings. The brokers involved in the transaction are Miles Sabbagh and Marc Sitt from KSR. The total square footage of the leased properties is 20,875, with 9,375 square feet at 3225 Third Avenue and 11,500 square feet at 80 Bruckner Boulevard. Both properties were leased at a rate of $50 per square foot.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: Not specified
  • Market: Melrose, Bronx & Mott Haven, Bronx
  • Landlord: Peter Fine
  • Tenant: Bright Beginnings
  • Brokers: Miles Sabbagh & Marc Sitt - KSR
  • Asking Rent: $50/ft
  • Square Footage: 20,875 (9,375 SF at 3225 Third Avenue, 11,500 SF at 80 Bruckner Boulevard)

Please contact Miles Sabbagh and Marc Sitt for more information on daycare space opportunities.

Players

Marc Sitt

Kassin Sabbagh Realty

Broker

$272.9M

vol

64 deals

Broker
Peter Fine

Peter Fine

Atlantic Development Group

Landlord

$477.2M

vol

20 deals

Landlord
BB
Bright BeginningsTenant

Thirty Package Deal Market Snapshot

Boundary boundary · Package Deal · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93