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236 Richmond Valley Road

Premiere Pickleball Leases Retail Space On Staten Island For 10 Years
LEASEDRetail

Premiere Pickleball Leases Retail Space On Staten Island For 10 Years

236 Richmond Valley Road

$30

$30/SF

Building Size

14,000 SF

Asset Type

Retail

Closing

May 7, 2024

AI

The retail property located at 236 Richmond Valley Road in Staten Island was recently leased to Premiere Pickleball. The property spans 14,000 square feet and features an NNN lease arrangement with an asking rent of $30 per square foot. The lease term spans 10 years, highlighting a long-term commitment from both parties involved in the transaction.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Marvin Beinhorn
  • Tenant: Premiere Pickleball
  • Broker: Josh Augenbaum & Jack Friedman - Augenbaum Realty
  • Address: 236 Richmond Valley Road, Staten Island
  • Market: Staten Island
  • Lease Type: NNN Lease
  • Lease Term: 10 Years
  • Asking Rent: $30/ft
  • SF: 14,000

The lease deal was facilitated by brokers Josh Augenbaum and Jack Friedman from Augenbaum Realty, who represented both the landlord, Marvin Beinhorn, and the tenant, Premiere Pickleball, in this transaction. Their expertise and negotiation skills played a crucial role in bringing the deal to fruition, marking a successful partnership between all involved parties.

Players

Josh Augenbaum

Augenbaum Realty

Broker

$655M

vol

144 deals

Broker

Staten Island 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

528766.67%

Cash-on-Cash

-151123.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93