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3254 White Plains Road, The...

Laundry Bee Signs 15-Year Lease At Mixed-Use Property In The Bronx
LEASEDMixed-use

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

Kathy Zamechansky

Broker

$11.3M

vol

6 deals

Broker
Douglaston Development
Douglaston DevelopmentLandlord

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