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290 Main Street

Updated Dec 4, 2024

Kyle Savage Signs 5-Year Ground Lease At 290 Main Street In Port Washington
LEASEDRetail

Kyle Savage Signs 5-Year Ground Lease At 290 Main Street In Port Washington

290 Main Street

$28

$28/SF

Building Size

1,500 SF

Asset Type

Retail

Closing

Sep 18, 2023

About this deal

AI

Located at 290 Main Street in Port Washington, this retail asset was recently leased in a ground lease transaction. The property spans approximately 1,500 square feet and was leased for a term of 5 years. The landlord in this transaction is Filippa Petrucelli, while the tenant is Kyle Savage. The brokers who facilitated the deal were Luca DiCiero, Giuseppe Gregorio, and Fabio Acquista from NY Space Finders. The asking rent for the lease was $28.00 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not applicable (lease)
  • Address: 290 Main Street, Port Washington
  • Market: Port Washington
  • Landlord: Filippa Petrucelli
  • Tenant: Kyle Savage
  • Brokers: Luca DiCiero, Giuseppe Gregorio, Fabio Acquista - NY Space Finders
  • Asking Rent: $28.00 per square foot
  • Lease Type: Ground Lease
  • Lease Term: 5 years

In this lease transaction, the key individuals and companies involved were Filippa Petrucelli as the landlord and Kyle Savage as the tenant. The deal was facilitated by Luca DiCiero, Giuseppe Gregorio, and Fabio Acquista from NY Space Finders. These brokers represented the parties involved in the lease agreement.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Port Washington Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $28 per square foot on a published $28 for 1,500 square feet (2023).

Visit Luca DiCiero to view all their deals.

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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