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
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