Protravel International Leases 8000 Sq Ft In Westbury With Ralph Benzakein Of Cresa Rep
1400 Old Country Rd, Westbury, NY, 1...
Building Size
8,000 SF
Asset Type
—
Closing
Nov 22, 2023
AI
The property involved in the transaction is located at 1400 Old Country Rd, Westbury, NY, consisting of 8,000 square feet. Protravel International signed a long-term lease for the space, as part of their relocation from 6801 Jericho Turnpike in Syosset. Additionally, Protravel recently renewed a lease for 4,000 square feet at 999 Central Ave. in Woodmere.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not available
- Tenant: Protravel International
- Tenant's Rep: Ralph Benzakein (Cresa)
- Landlord: Valley East Management LLC
- Square Feet: 8000
- Market: Westbury
Ralph Benzakein of Cresa Long Island represented Protravel International in the lease transaction for the Westbury property and the Woodmere lease renewal. Adam Rochlin and Joe Kondracke of The Rochlin Organization served as the representatives for the landlord, Valley East Management, in the Westbury lease. Meanwhile, Richard Cohn of Black Diamond Realty represented the landlord, Central Avenue Associates, in the Woodmere lease renewal.
Players
Westbury CRE Market Snapshot
Boundary boundary · CRE · 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