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1 Village Green Way, Patcho...

Southdown Coffee Leases Retail Space At 1 Village Green Way, Patchogue
LEASEDRetail

Southdown Coffee Leases Retail Space At 1 Village Green Way, Patchogue

1 Village Green Way, Patchogue, NY...

Building Size

2,126 SF

Asset Type

Retail

Closing

Aug 27, 2022

AI

The property involved in the transaction is a retail asset located at 1 Village Green Way, Patchogue, NY. Spanning 2,126 square feet, the asset is situated in the bustling market of Patchogue, specifically within the New Village at Patchogue mixed-use development.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 1 Village Green Way, Patchogue, NY
  • Market: Patchogue
  • Landlord's Rep: Maria Valanzano (Colliers International), Steven D’Orazio (Colliers International)
  • Tenant: Southdown Coffee
  • Landlord: TRITEC Real Estate Company
  • Square Feet: 2,126

The key individuals and companies involved in this transaction were Senior Managing Directors Maria Valanzano and Steven D’Orazio from Colliers International. They represented both the landlord, TRITEC Real Estate Company, and the tenant, Southdown Coffee, in securing the lease at the vibrant New Village at Patchogue location. The New Village development, which was completed in 2014, has significantly contributed to the revitalization of Patchogue, offering a mix of residential, retail, and office spaces that have enhanced the community's appeal.

Players

Steven D’Orazio

Colliers

Broker

1 deal

Broker
TI
Tritec Real Estate Company, Inc.Landlord

Patchogue Retail Market Snapshot

Boundary boundary · Retail · 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