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240-10 Merrick Blvd, Jamaic...

Starbucks Leases Retail Space In Rosedale, NY At 240-10 Merrick Blvd. With Landlord Cynthia Rich - Ivy Realty
LEASEDRetail

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

Doug Weinstein

Ripco

Broker

$4.5M

vol

3 deals

Broker
Ivy Realty
Ivy RealtyBrokerage
Ivy Realty
Ivy RealtyLandlord
Starbucks
StarbucksTenant

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