ReadySpaces Leases 110,300-Square-Foot Facility In Mount Vernon
250 Sandford Boulevard East
Building Size
110,300 SF
Asset Type
Mixed-use
Closing
Oct 4, 2023
AI
The mixed-use property located at 250 Sandford Boulevard East in Mount Vernon, New York has been leased by ReadySpaces. The facility spans a total of 110,300 square feet, providing ample space for various commercial activities. This lease marks ReadySpaces' second location in the state and its fifth in the NYC/North Jersey metro area.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Address: 250 Sandford Boulevard East, Mount Vernon, New York
- Market: Mount Vernon
- Landlord: Joe Simone & Josh Gopan - Simone Development Companies
- Tenant: ReadySpaces
Joe Simone & Josh Gopan, representing Simone Development Companies, serve as the landlords for this property. ReadySpaces, known for its flexible workspace solutions, is the tenant that has secured a long-term lease for the entire 110,300-square-foot facility. This expansion into Mount Vernon further strengthens ReadySpaces' presence in the New York and North Jersey region.
Players
Mount Vernon Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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