La Bottega Italian Gourmet Leases Retail Space In Glen Cove For 10 Years
192 Glen St Glen Cove, NY 11542, USA
$35
$35/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Aug 21, 2023
About this deal
AI
A retail property located at 192 Glen Street in Glen Cove has recently been leased. The property, measuring 2,500 square feet, is owned by Lady Of Grace Realty and is represented by Carlo DiMaggio as the landlord. The tenant, La Bottega Italian Gourmet, will occupy the space. The lease agreement was facilitated by brokers Luca DiCiero and Giuseppe Gregorio from NY Space Finders. The asking rent for the property is $35 per square foot. The lease term is set for 10 years with a 5-year option.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $35/ft
- Square Footage: 2,500
- Lease Term: 10 years with a 5-year option
- Landlord: Lady Of Grace Realty - Carlo DiMaggio
- Tenant: La Bottega Italian Gourmet - Giuseppe Ruta
- Brokers: Luca DiCiero & Giuseppe Gregorio - NY Space Finders
The deal was successfully negotiated by Luca DiCiero and Giuseppe Gregorio from NY Space Finders, who acted as brokers in the transaction. Their expertise and extensive market knowledge contributed to securing the lease for the tenant, La Bottega Italian Gourmet. The landlord, Lady Of Grace Realty, represented by Carlo DiMaggio, agreed to the lease terms, providing a 10-year lease with a 5-year option. This arrangement ensures a long-term commitment between the landlord and tenant.
Players
Market 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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93