Oren Sendowski Leases Retail Space To IHOP At 410 East 189th Street Bronx For $45/ft
410 East 189th Street
$45
$45/SF
Building Size
4,900 SF
Asset Type
Retail
Closing
Jan 15, 2025
AI
The asset involved in this closed transaction is a retail property located at 410 East 189th Street in the Bronx market. The property has a square footage of 4,900 and is leased under a Single Net Lease agreement. The asking rent for this space was set at $45 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $45/ft
- Address: 410 East 189th Street
- Market: Bronx
- Lease Type: Single Net Lease
- Landlord: Oren Sendowski
- Tenant: IHOP
- Brokers: Steve Lorenzo & Jeffrey Lopez - Lee & Associates
The key individuals involved in this transaction include Oren Sendowski, the landlord, and the tenant, IHOP. The transaction was facilitated by brokers Steve Lorenzo and Jeffrey Lopez from Lee & Associates, who represented the parties in this lease agreement.
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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93