Jose Reyes Leases Retail Space At 30 E. Main St. In Patchogue With Broker Michael Steinberg - Empire Business Mgmt
30 East Main Street, Amsterdam, NY 12010
Building Size
2,000 SF
Asset Type
Retail
Closing
Oct 14, 2021
About this deal
AI
30 E. Main St. in Patchogue has been leased for retail use. The property, totaling 2,000 square feet, was leased by tenant Jose Reyes. The landlord for this transaction was MGD Investments. The lease was facilitated by broker Michael Steinberg of Empire Business Management. The lease agreement was signed on October 14, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 10/14/2021
- Address: 30 E. Main St., Patchogue
- Tenant: Jose Reyes
- Landlord: MGD Investments
- Broker: Michael Steinberg - Empire Business Management
The leased retail space at 30 E. Main St. offers an opportunity for business operations under the tenancy of Jose Reyes. The deal was successfully negotiated by broker Michael Steinberg of Empire Business Management, who represented the tenant in this transaction. The lease is expected to benefit both the tenant and the landlord, MGD Investments, as they move forward with their respective plans.
Players
Amsterdam 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