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The Swing Golf Lounge LLC Leases 8,060 SF Retail Space At 33 S Service Road In Long Island

Property Image
LEASED
$23
Luca DiCiero
Giuseppe Gregorio
+ 1

New York

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Retail8,060 SF
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Property Image
LEASED

The Swing Golf Lounge LLC Leases 8,060 SF Retail Space At 33 S Service Road In Long Island

33 South Service Road

See Similar Deals
Retail8,060 SF
Luca DiCiero
Giuseppe Gregorio
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$23
Total Square Footage:8,060 SF
Transaction Type:Lease

Located at 33 S Service Road in Long Island, this retail property was recently leased by The Swing Golf Lounge LLC. The lease was facilitated by Luca DiCiero and Giuseppe Gregorio from NY Space Finders, who represented the tenant, and Harris Rousso from Real Estate Strategies, Ltd, who represented the landlord, South Service Jericho Associated L.P.

Summary of transaction details:

  • Property Type: Retail
  • Address: 33 S Service Road, Long Island
  • Tenant: The Swing Golf Lounge LLC - Frank Yao & Young Park
  • Landlord: South Service Jericho Associated L.P - David Rosen
  • Tenant's Rep: Luca DiCiero & Giuseppe Gregorio - NY Space Finders
  • Landlord's Rep: Harris Rousso - Real Estate Strategies, Ltd

The lease terms for this 8,060 square feet property include a 15-year lease with 3% annual rent increases. The asking rent for this retail space was $23 per square foot. The premises will be used as an indoor virtual country club, featuring a premium golf studio, a pro-shop, and a sports bar, making it the first of its kind on Long Island.

This transaction showcases the successful collaboration between The Swing Golf Lounge LLC and South Service Jericho Associated L.P. Both parties were represented by experienced brokers, Luca DiCiero, Giuseppe Gregorio, and Harris Rousso. The deal highlights the increasing demand for recreational and entertainment spaces in the Long Island market.

Players

Luca DiCiero
151 deals$124.3M volume(347) 242-0353
BROKER

Giuseppe Gregorio
NY Space Finders
51 deals$30.8M volume
BROKER

Ben Crosby
Crosby & Associates, Inc.
1 deal
BROKER

David Rosen
5 deals$45.4M volume
LANDLORD

TENANT

Details

LEASED
IMAGE: Giuseppe Gregorio & Luca DiCiero DATE: 10/07/2022 ADDRESS: 33 S Service Road MARKET: Long Island ASSET TYPE: Retail TENANT: The Swing Golf Lounge LLC - Frank Yao & Young Park LANDLORD: South Service Jericho Associated L.P - David Rosen TENANT'S REP: Luca DiCiero & Giuseppe Gregorio (@GiuseppeGregorio) - NY Space Finders (@NYSpaceFinders) LANDLORD'S REP: Harris Rousso - Real Estate Strategies, Ltd ASKING RENT: $23/ft. ~ SF: 8,060 LEASE TERMS: 15 Year Lease 3% Increases NOTE FROM @NYSpaceFinders: 8060 SF Use: Indoor Virtual Country Club. The first Premium Gold Studio on Long Island with a pro-shop and sports bar.

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Deal Type
Effective Rent (Annual)

$212,517.39

Total Lease Value

$2,125,173.95

Net Landlord Cash Flow$212,517.39