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:
- Property Type: Retail
- Transaction Amount: $130/ft
- Square Footage: 1,800
- Address: 4240 Broadway
- Market: Washington Heights
- Landlord: Aaron Drazin - Crest Realties
- Tenant: The Dermatology Specialist
- Landlord's Representative: Albert Salameh, David Green & David Sabbagh - KSR
- Tenant's Representative: Michael Yadgard - Compass & Jeremy Scholder - CBRE
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
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