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279 Glen St Glen Cove, NY 1...

Updated Oct 29, 2024

Glen Cove Pharmacy Leases Retail Space At 279 Glen Street, Glen Cove
LEASEDRetail

Glen Cove Pharmacy Leases Retail Space At 279 Glen Street, Glen Cove

279 Glen St Glen Cove, NY 11542, USA

$28

$28/SF

Building Size

1,100 SF

Asset Type

Retail

Closing

Aug 10, 2023

About this deal

AI

The property involved in this lease transaction is a retail space located at 279 Glen Street in Glen Cove. The property is owned by 279 Glen St Corp, represented by Joe Caruso. The tenant, Glen Cove Pharmacy, has signed a 5-year lease with a 5-year option. The space measures approximately 1,100 square feet and the asking rent is $28 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 279 Glen Street
  • Market: Glen Cove
  • Landlord: 279 Glen St Corp - Joe Caruso
  • Tenant: Glen Cove Pharmacy
  • Brokers: Luca DiCiero & Giuseppe Gregorio - NY Space Finders
  • Asking Rent: $28/ft
  • Lease Term: 5-year lease with 5-year option

The lease transaction was facilitated by Luca DiCiero and Giuseppe Gregorio of NY Space Finders, representing the tenant Glen Cove Pharmacy. They played a key role in negotiating the terms of the lease agreement.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Glen Cove Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $28 per square foot on a published $28 for 1,100 square feet (2023).

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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

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