Peter Fine Leases Retail Space At 3225 Third Avenue To Inspire Brands With Brokers Miles Sabbagh & Marc Sitt
3225 Third Avenue
$65
$65/SF
Building Size
1,800 SF
Asset Type
Retail
Closing
Apr 11, 2025
AI
The property involved in this transaction is located at 3225 Third Avenue in the Longwood market. It is a retail asset with a lease type classified as a Retail Lease. The asking rent is set at $65 per square foot, with a total area of 1,800 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $117,000
- Landlord: Peter Fine
- Tenant: Inspire Brands
- Brokers: Miles Sabbagh & Marc Sitt - KSR
- Asking Rent: $65/ft
- Lease Type: Retail Lease
The key individuals involved in the deal are Peter Fine representing the landlord and Inspire Brands as the tenant. The transaction was facilitated by brokers Miles Sabbagh and Marc Sitt from KSR. Notably, Dunkin Donuts, Baskin Robbin’s, and Jimmy John’s are expected to establish a presence at this location soon.
Players
Bronx 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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93