Bob's Discount Furniture Leases Retail Space In Lawrence At 345 Rockaway Turnpike
345 Rockaway Turnpike, Lawrence, New York 11559, United States
Building Size
21,336 SF
Asset Type
Retail
Closing
May 31, 2022
AI
Located at 345 Rockaway Turnpike in Lawrence, this retail property has recently been leased. The property is owned by Ashkenazy Acquisition Corporation and the tenant is Bob's Discount Furniture. The lease transaction was facilitated by Benjamin Weiner who represented the tenant, while Bruce Herman of Booth Capital Advisors represented the landlord.
Summary of transaction details:
- Property Type: Retail
- Transaction Date: 06/01/2022
- Address: 345 Rockaway Turnpike, Lawrence
- Market: Lawrence
- Tenant: Bob's Discount Furniture
- Tenant's Representative: Benjamin Weiner
- Landlord: Ashkenazy Acquisition Corporation
- Landlord's Representative: Bruce Herman - Booth Capital Advisors
- Asking Rent: $30/ft.
- Square Footage: 21,336
Bruce Herman and Benjamin Weiner, along with their respective agencies Booth Capital Advisors and the unnamed agency representing Benjamin Weiner, played crucial roles in finalizing this lease deal. The transaction showcases the collaboration between the tenant and the landlord to secure this retail space at 345 Rockaway Turnpike.
Players
Lawrence 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