Kim Chunyeong Leases Retail Space At 170 Forest Ave Glen Cove For $28/ft
170 Forest Avenue
$28
$28/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Jun 18, 2024
AI
The retail property located at 170 Forest Avenue in Glen Cove was leased in a transaction involving landlord Stephen Vacaro and tenant Kim Chunyeong. The lease, facilitated by brokers Luca DiCiero, Giuseppe Gregorio, and Nicholas Evangelista from NY Space Finders, has an asking rent of $28 per square foot for a 1,000 square foot retail space. The lease term is set at 5 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 170 Forest Avenue
- Market: Glen Cove
- Landlord: Stephen Vacaro
- Tenant: Kim Chunyeong
- Brokers: Luca DiCiero, Giuseppe Gregorio, and Nicholas Evangelista - NY Space Finders
- Asking Rent: $28 per square foot
- Lease Type: Retail Lease
- Lease Term: 5 years
The deal was successfully negotiated by Luca DiCiero, Giuseppe Gregorio, and Nicholas Evangelista from NY Space Finders, who represented both the landlord, Stephen Vacaro, and the tenant, Kim Chunyeong, in securing a 5-year lease for the retail space at 170 Forest Avenue in Glen Cove.
Players
Glen Cove 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
566535.71%
Cash-on-Cash
-161917.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93