Saks Off 5th Leases 25000 Square Feet At 200 Baychester Ave Bronx With Brian Katz As Tenant's Rep
200 Baychester Ave, Bronx, NY, 10475
Building Size
25,000 SF
Asset Type
Retail
Closing
Nov 1, 2016
AI
A lease has been signed for a commercial property located at 200 Baychester Ave, Bronx, NY, 10475. The space encompasses 25,000 square feet within the Bronx market. This location will establish Saks Off 5th's first presence in the borough.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Tenant: Saks Off 5th
- Landlord: Prestige Properties & Development
- Tenant's Representative: Brian Katz - Katz & Associates Real Estate Advisors
- Landlord's Representatives: Jerry Welkis and Etan Shalem - Welco Realty
This lease marks a significant expansion for Saks Off 5th as they enter the Bronx, facilitated by the representation of Brian Katz from Katz & Associates. The landlords, Prestige Properties & Development, were repped by Jerry Welkis and Etan Shalem, highlighting a collaborative effort in this transaction.
Players
Bronx 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93