Laundry Bee Signs 15-Year Lease At Mixed-Use Property In The Bronx
3254 White Plains Road, The Bronx, New York 10467, United States
Building Size
6,200 SF
Asset Type
Mixed-use
Closing
Oct 18, 2022
AI
Laundry Bee has signed a 15-year lease for a mixed-use property located at 3254 White Plains Road in Bronx. The property, with a total area of 6,200 square feet, was leased from Douglaston Development. The deal was facilitated by Kathy Zamechansky & Duley Paniagua of KZA Realty Group, representing the landlord, and Michael Raifaisen & Anthony Jurkovic of Commercial Retail Associates, representing the tenant. The lease was finalized on October 19, 2022, and the asking rent was $40 per square foot.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: October 19, 2022
- Address: 3254 White Plains Road, Bronx
- Market: Bronx
- Landlord: Douglaston Development
- Tenant: Laundry Bee
- Landlord's Rep: Kathy Zamechansky & Duley Paniagua - KZA Realty Group
- Tenant's Rep: Michael Raifaisen & Anthony Jurkovic - Commercial Retail Associates
- Asking Rent: $40 per square foot
- Square Footage: 6,200
- Lease Terms: 15-year deal
Kathy Zamechansky & Duley Paniagua of KZA Realty Group represented Douglaston Development, the landlord, in the lease transaction. Michael Raifaisen & Anthony Jurkovic of Commercial Retail Associates represented Laundry Bee, the tenant. The lease agreement was reached at an asking rent of $40 per square foot for a duration of 15 years.
Players
New York 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