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1273 Saint Nicholas Avenue

Gitana Realty Signs Ground Lease For Retail Space In Washington Heights At 1273 St Nicholas Ave
LEASEDRetail

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

Joshua Berkun

Kassin Sabbagh Realty

Broker

$3.3M

vol

12 deals

Broker
BP
Bronstein PropertiesLandlord

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