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4240 Broadway

Aaron Drazin's Crest Realties Leases Retail Space To The Dermatology Specialist In Washington Heights
LEASEDRetail

Aaron Drazin's Crest Realties Leases Retail Space To The Dermatology Specialist In Washington Heights

4240 Broadway

$130

$130/SF

Building Size

1,800 SF

Asset Type

Retail

Closing

Dec 17, 2024

AI

The property asset involved in this transaction is a retail space located at 4240 Broadway in the Washington Heights market. The asking rent for the space is $130 per square foot, and it encompasses a total area of 1,800 square feet.

Summary of transaction details:

Key individuals involved in this deal include the landlord, Aaron Drazin from Crest Realties, and the tenant, The Dermatology Specialist. The representatives for the landlord were Albert Salameh, David Green, and David Sabbagh from KSR, while the tenant was represented by Michael Yadgard from Compass and Jeremy Scholder from CBRE.

Players

David Sabbagh

Kassin Sabbagh Realty

Broker

61 deals

Broker

New York 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

122023.08%

Cash-on-Cash

-34874.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93