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
About this deal
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
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