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192 Glen St Glen Cove, NY 1...

Updated Oct 29, 2024

La Bottega Italian Gourmet Leases Retail Space In Glen Cove For 10 Years
LEASEDRetail

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

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Market Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $35 per square foot on a published $35 for 2,500 square feet (2023).

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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

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