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2505 Third Avenue

Oren Altmark Of Altmark Group Leases Retail Space To Growing Together After School In Bronx
LEASEDRetail

Oren Altmark Of Altmark Group Leases Retail Space To Growing Together After School In Bronx

2505 Third Avenue

$29

$29/SF

Building Size

3,300 SF

Asset Type

Retail

Closing

Apr 2, 2025

AI

The property asset involved in this lease transaction is located at 2505 Third Avenue in the Bronx. This retail space consists of 3,300 square feet and has an asking rent of $29 per square foot. The lease type for this transaction is a Single Net Lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $29/ft
  • Square Footage: 3,300
  • Address: 2505 Third Avenue
  • Market: Bronx
  • Landlord: Oren Altmark - Altmark Group
  • Tenant: Growing Together After School
  • Landlord's Representative: Ben Biberaj & Desi Avidane - Meridian Capital Group
  • Tenant's Representative: Danny Heredia - Meridian Capital Group

Key individuals involved in this transaction include Oren Altmark, representing the Altmark Group as the landlord, and Danny Heredia, who represents the tenant, Growing Together After School. The landlord's representatives, Ben Biberaj and Desi Avidane, are from Meridian Capital Group, indicating their role in facilitating this lease agreement.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

197 deals

Broker
AG
Altmark GroupLandlord

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

547000.00%

Cash-on-Cash

-156334.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93