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
About this deal
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.
On the Map
$52
$52/SF
Retail
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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
305057.69%
Cash-on-Cash
-87186.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93