Esteban Neives Leases Retail Space At 250 Willis Avenue To Furniture Depot For $35/ft
250 Willis Avenue
$35
$35/SF
Building Size
24,000 SF
Asset Type
Retail
Closing
Jul 24, 2025
AI
The property involved in this transaction is a retail asset located at 250 Willis Avenue in the Mott Haven market. The total square footage of the space is 24,000, and the asking rent is set at $35 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35/ft
- Address: 250 Willis Avenue
- Market: Mott Haven
- Landlord: Esteban Neives
- Tenant: Furniture Depot
- Lease Type: Retail Lease
- Brokers: Miles Sabbagh, Marc Sitt & Nathan Aballi - KSR
The transaction features notable involvement from Esteban Neives representing the landlord, and Furniture Depot as the tenant. The brokers facilitating this lease are Miles Sabbagh, Marc Sitt, and Nathan Aballi from KSR, contributing their expertise to the retail real estate market.
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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93