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State Road 3 East, Secaucus...

Updated Oct 28, 2024

Banana King Signs Lease At 217 E Route 3e In Secaucus, NJ With Landlord Fama RE LLC And Brokers Chris Conway, Lew Finkelstein, & CJ Huter Etail_cre
LEASEDRetail

Banana King Signs Lease At 217 E Route 3e In Secaucus, NJ With Landlord Fama RE LLC And Brokers Chris Conway, Lew Finkelstein, & CJ Huter Etail_cre

State Road 3 East, Secaucus, NJ, USA

Building Size

3,659 SF

Asset Type

Retail

Closing

Mar 17, 2021

About this deal

AI

The retail property located at 217 E Route 3e in Secaucus, NJ has been leased. The tenant in this transaction is Banana King, and the landlord is Fama RE LLC. The lease was facilitated by Chris Conway, Lew Finkelstein, and CJ Huter of etail_cre. The asking rent for the property was $45 per square foot, and the total square footage is approximately 3,659. It is important to note that the 10-year lease term also includes the sale of a liquor license.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Leased
  • Address: 217 E Route 3e, Secaucus, NJ
  • Tenant: Banana King
  • Landlord: Fama RE LLC
  • Brokers: Chris Conway, Lew Finkelstein, and CJ Huter of etail_cre
  • Asking Rent: $45/ft
  • Approx. Square Footage: 3,659

Chris Conway, Lew Finkelstein, and CJ Huter played a crucial role in representing the tenant and landlord in this lease transaction. Their expertise in the retail market and negotiations helped facilitate the deal. The inclusion of the liquor license sale in the lease term adds an extra dimension to this transaction, providing additional value to both parties involved.

Players

Christopher Conway

Atlantic Coastal Real Estate

Broker

$12.1M

vol

40 deals

Broker

Secaucus 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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