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350 East Fordham Road

Venture House Inc. Leases 13,251 SF Retail Space At 350 East Fordham Road Bronx
LEASEDRetail

Venture House Inc. Leases 13,251 SF Retail Space At 350 East Fordham Road Bronx

350 East Fordham Road

$52

$52/SF

Building Size

13,251 SF

Asset Type

Retail

Closing

Nov 4, 2024

AI

The transaction involves a retail asset located at 350 East Fordham Road in the Bronx, encompassing a lease term of 30 years under a Modified Gross Lease agreement. The asking rent for the property is set at $52 per square foot, with a total area of 13,251 square feet.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $52/ft
  • Market: Bronx
  • Landlord: Eli Gindi & Jack Braha - Gindi Capital Holdings
  • Tenant: Venture House Inc.
  • Brokers: Mitzi Flexer - Cushman & Wakefield, Josh Augenbaum, Murray Mizrachi - Augenbaum Realty
  • Lease Term: 30 Years
  • Lease Type: Modified Gross Lease
  • Additional Space: Ground and 3rd Floor still available, suitable for any retail/medical/office use

Mitzi Flexer represents Cushman & Wakefield, while Josh Augenbaum and Murray Mizrachi represent Augenbaum Realty in the lease agreement. Venture House Inc. will occupy the entire 2nd Floor at the specified address.

Players

Josh Augenbaum

Augenbaum Realty

Broker

$652.8M

vol

140 deals

Broker

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

305057.69%

Cash-on-Cash

-87186.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93