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170 Forest Avenue

Kim Chunyeong Leases Retail Space At 170 Forest Ave Glen Cove For $28/ft
LEASEDRetail

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

Luca DiCiero

NY Space Finders

Broker

$124.3M

vol

152 deals

Broker

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