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10 2020 Jericho Turnpike

Richard Dickson Of Gap Inc Opens Retail Lease At 10-2020 Jericho Turnpike In Commack
LEASEDRetail

Richard Dickson Of Gap Inc Opens Retail Lease At 10-2020 Jericho Turnpike In Commack

10 2020 Jericho Turnpike

Building Size

12,800 SF

Asset Type

Retail

Closing

May 30, 2025

AI

The property asset involved in this transaction is a retail space located at 10-2020 Jericho Turnpike, Commack. The total square footage of the asset is 12,800, which is designated for Gap Factory's new store opening. Gap Factory is established in a significant retail location within the Mayfair Shopping Center, following a previous closure of their location in 2019.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 12,800
  • Address: 10-2020 Jericho Turnpike
  • Market: Commack
  • Tenant: Richard Dickson - Gap Inc
  • Landlord's Rep: E.J. Moawad - LEVIN Management
  • Tenant's Rep: Michael Friedman - Inline Realty

This transaction features notable individuals and companies, including Richard Dickson, who represents Gap Inc as the tenant. The landlord's representative for this deal is E.J. Moawad from LEVIN Management, and the tenant is represented by Michael Friedman of Inline Realty. This collaboration brings Gap Factory back to the community with a prominent retail presence.

Players

Michael Friedman

Broker

1 deal

Broker

Commack 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