Starbucks Leases Retail Space In Rosedale, NY At 240-10 Merrick Blvd. With Landlord Cynthia Rich - Ivy Realty
240-10 Merrick Blvd, Jamaica, NY, USA
Building Size
25,015 SF
Asset Type
Retail
Closing
Jun 15, 2020
AI
The retail property located at 240-10 Merrick Blvd. in Rosedale has been leased to Starbucks. The transaction was finalized on 06/15/2021.
Summary of transaction details:
- Property Type: Retail
- Address: 240-10 Merrick Blvd.
- Market: Rosedale
- Tenant: Starbucks
- Landlord: Cynthia Rich - Ivy Realty
- BROKERS: Richard Senior - RIPCO Real Estate, Chris Walther, Doug Weinstein
- Asking Rent: $20/ft.
- Building Square Footage: 25,015
The deal was negotiated by Richard Senior from RIPCO Real Estate, along with Chris Walther and Doug Weinstein. Cynthia Rich represented Ivy Realty as the landlord. The lease agreement includes an asking rent of $20 per square foot for the 25,015 square feet retail space.
Players
New York 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