Atlantic Development Leases Retail Space To Star Mart At 1000 Westchester Avenue For $55/ft
1000 Westchester Avenue
$55
$55/SF
Building Size
4,588 SF
Asset Type
Retail
Closing
Jul 31, 2024
About this deal
AI
The property involved in this transaction is a retail asset located at 1000 Westchester Avenue in the Longwood market. The asking rent for the space, which spans 4,588 square feet, is set at $55 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $55/ft
- Asset Size: 4,588 SF
- Address: 1000 Westchester Avenue
- Market: Longwood
- Landlord: Atlantic Development
- Tenant: Star Mart
- Brokers: Miles Sabbagh & Marc Sitt - KSR
- Lease Type: Retail Lease
The deal involved key individuals including brokers Miles Sabbagh and Marc Sitt from KSR, representing the interests of the landlord, Atlantic Development, in the lease with tenant Star Mart.
On the Map
$55
$55/SF
Retail
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Players
Bronx 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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93