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1612 Westchester Avenue

C-Town Supermarket Leases Retail Space At 1612 Westchester Avenue In Soundview
LEASEDRetail

C-Town Supermarket Leases Retail Space At 1612 Westchester Avenue In Soundview

1612 Westchester Avenue

$55

$55/SF

Building Size

11,400 SF

Asset Type

Retail

Closing

May 8, 2023

AI

The retail property located at 1612 Westchester Avenue in Soundview has been leased. The lease transaction was completed on 05/08/2023 with a total square footage of 11,400. The landlord for this property is Sharif Omar, and the tenant is C-Town Supermarket. The leasing deal was facilitated by Marc Sitt and Miles Sabbagh of KSR.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 1612 Westchester Avenue
  • Market: Soundview
  • Tenant: C-Town Supermarket
  • Landlord: Sharif Omar
  • Brokers: Marc Sitt & Miles Sabbagh - KSR
  • Asking Rent: $55/ft

Marc Sitt and Miles Sabbagh of KSR played a crucial role as brokers in the lease deal for the retail property at 1612 Westchester Avenue. They represented both the landlord, Sharif Omar, and the tenant, C-Town Supermarket, ensuring a successful transaction.

Players

Marc Sitt

Kassin Sabbagh Realty

Broker

$272.9M

vol

64 deals

Broker

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

288418.18%

Cash-on-Cash

-82430.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93