Joe Caruso Leases 275 Glen Street Long Island Retail Center To Chu Xim
275 Glen Street
$32
$32/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Mar 5, 2024
AI
Located at 275 Glen Street in Long Island, the property is a Shopping Strip/ Retail Center with a total square footage of 1,100. The landlord, Joe Caruso, finalized a 5-year Retail Lease with the tenant, Chu Xim, at an asking rent of $32 per square foot.
Summary of transaction details:
- Property Type: Shopping Strip/ Retail Center
- Transaction Amount: Not specified
- Address: 275 Glen Street
- Market: Long Island
- Landlord: Joe Caruso
- Tenant: Chu Xim
- Brokers: Luca DiCiero, Giuseppe Gregorio & Nicholas Evangelista - NY Space Finders
- Lease Type: Retail Lease
- Lease Term: 5 Years
The transaction involved the expertise of Luca DiCiero, Giuseppe Gregorio, and Nicholas Evangelista from NY Space Finders who represented both parties, ensuring a successful deal between the landlord and tenant.
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
495718.75%
Cash-on-Cash
-141677.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93