Bank Of America Renews Lease At 928 McLean Avenue In Yonkers
928 McLean Ave, Yonkers, NY 10704, USA
Building Size
100,040 SF
Asset Type
Mixed-use
Closing
Sep 14, 2020
About this deal
AI
Bank of America has renewed its lease for a mixed-use property located at 928 McLean Avenue in Yonkers, New York. The property, owned by MSK Group and managed by Neal Mosse, spans 10,000 square feet. The lease renewal is for a term of 10 years, with the tenant responsible for net-net-net (NNN) expenses. The asking rent for the space is $50 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Lease renewal
- Asking Rent: $50/ft.
- Square Footage: 10,000
- Tenant: Bank of America
- Landlord: MSK Group - Neal Mosse
- Landlord's Representative: David Cortez; Julia B Fee - The Leasing Experts @The_Leasing_Experts
- Tenant's Representative: CBRE
The lease renewal was facilitated by David Cortez from Julia B Fee - The Leasing Experts and CBRE, who represented the landlord and tenant respectively.
Players
City of Yonkers Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
Loading comparables…
Deal FAQ
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