Olgam Medical Leases Retail Space In Bronx From ACADIA Realty Trust
2914 3rd Avenue, Bronx, NY, USA
Building Size
11,000 SF
Asset Type
Retail
Closing
Mar 17, 2021
About this deal
AI
Located at 2914 3rd Avenue in the Bronx, this retail property was recently leased on March 18, 2021. The property spans over 11,000 square feet and is owned by ACADIA Realty Trust. Olgam Medical, a tenant, has secured the lease for this space. The asking rent for the property was $25 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 03/18/2021
- Address: 2914 3rd Avenue, Bronx
- Tenant: Olgam Medical
- Landlord: ACADIA Realty Trust
- Tenant's Representative: Josh Augenbaum (AugenbaumRealtyNY)
- Landlord's Representatives: Jack Khaski and Albert Manopla (Assin_Sabbagh_Realty)
- Asking Rent: $25 per square foot
- Square Footage: 11,000
Josh Augenbaum from AugenbaumRealtyNY represented Olgam Medical as their tenant's representative in the leasing deal. Jack Khaski and Albert Manopla from Assin_Sabbagh_Realty served as the landlord's representatives.
Players
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93