Fastenal Co Leases 7,100 SF Industrial Warehouse In Bronx At 1448 Ferris Place
1448 Ferris Place Bronx, New York 10461, USA
Building Size
7,100 SF
Asset Type
Industrial
Closing
Jul 26, 2023
AI
A 7,100-square-foot industrial warehouse located at 1448 Ferris Place in the East Bronx has been leased. The property, owned by Simone Development Cos, will now be occupied by Fastenal Co, a fastener distributor. This industrial space provides ample room for Fastenal Co to carry out its operations in the Bronx market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 1448 Ferris Place
- Market: Bronx
- Tenant: Fastenal Co
- Landlord: Simone Development Cos
- Broker: Mathew Diana - DY Realty Group
The lease transaction was facilitated by Mathew Diana of DY Realty Group, who represented Fastenal Co in the deal. Simone Development Cos, the landlord, had Josh Gopan and Jeremy Schwartz as their in-house brokers. This collaboration between the tenant, landlord, and their representatives has successfully secured the lease of this industrial warehouse in the East Bronx.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · 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