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1448 Ferris Place Bronx, Ne...

Fastenal Co Leases 7,100 SF Industrial Warehouse In Bronx At 1448 Ferris Place
LEASEDIndustrial

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

Mathew Diana

DY Realty Group

Broker

$415.6M

vol

19 deals

Broker
Deutsche Pfandbriefbank AG
Deutsche Pfandbriefbank AGLender
Josh Gopan

Josh Gopan

Simone Development

Landlord

5 deals

Landlord

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