NY Space Finders Leases Retail Space In Glen Cove, Long Island To Chef German Rizzo
274 Glen St Glen Cove, NY 11542, USA
$28
$28/SF
Building Size
4,000 SF
Asset Type
Retail
Closing
Aug 15, 2023
About this deal
AI
A retail property located at 274 Glen Street in Glen Cove, Long Island has recently been leased. The property spans 4,000 square feet and was leased by Chef German Rizzo. The lease was facilitated by brokers Luca DiCiero, Giuseppe Gregorio, and Adrian Dobrin from NY Space Finders. The landlord for the property is Benedetto DiMaggio.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $28.50/ft
- Square Footage: 4,000
- Lease Term: 10-Year Lease with 10-Year option
- Address: 274 Glen Street, Glen Cove, Long Island
- Landlord: Benedetto DiMaggio
- Tenant: Chef German Rizzo
- Brokers: Luca DiCiero, Giuseppe Gregorio, Adrian Dobrin - NY Space Finders
The lease transaction involving the retail property at 274 Glen Street was successfully negotiated by Chef German Rizzo as the tenant and Benedetto DiMaggio as the landlord. The brokers responsible for facilitating the lease were Luca DiCiero, Giuseppe Gregorio, and Adrian Dobrin from NY Space Finders. This transaction represents a 10-year lease agreement with a 10-year option, providing long-term stability for the tenant. The location of the property in Glen Cove, Long Island, offers potential for a successful retail business.
Players
Glen Cove 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
566535.71%
Cash-on-Cash
-161917.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93