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345 Rockaway Turnpike, Lawr...

Bob's Discount Furniture Leases Retail Space In Lawrence At 345 Rockaway Turnpike
LEASEDRetail

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

Benjamin Weiner

Ripco

Broker

10 deals

Broker

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