Gitana Realty Signs Ground Lease For Retail Space In Washington Heights At 1273 St Nicholas Ave
1273 Saint Nicholas Avenue
$100
$100/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Oct 31, 2023
AI
The retail property located at 1273 St Nicholas Avenue in Washington Heights has been leased in a ground lease transaction. The property, measuring 1,200 square feet, was leased by Gitana Realty from the landlord, Bronstein Properties. The lease was facilitated by brokers Jack Hamadani and Joshua Berkun from KSR. The asking rent for the property was $100 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 1273 St Nicholas Avenue, Washington Heights
- Market: Washington Heights
- Lease Type: Ground Lease
- Landlord: Bronstein Properties
- Tenant: Gitana Realty
- Brokers: Jack Hamadani & Joshua Berkun - KSR
- Asking Rent: $100 per square foot
The leasing transaction was handled by brokers Jack Hamadani and Joshua Berkun from KSR. They represented both the landlord, Bronstein Properties, and the tenant, Gitana Realty, in the deal.
Players
New York 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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93