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1400 Old Country Rd, Westbu...

Protravel International Leases 8000 Sq Ft In Westbury With Ralph Benzakein Of Cresa Rep
LEASED

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

Ralph Benzakein

Cresa

Broker

1 deal

Broker
VM
Valley East ManagementLandlord

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