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53 Spring Street

Zac DelVecchio Leases Retail Space At 53 Spring Street In Oyster Bay
LEASEDRetail

Zac DelVecchio Leases Retail Space At 53 Spring Street In Oyster Bay

53 Spring Street

$28

$28/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

May 1, 2024

AI

The retail property located at 53 Spring Street in Oyster Bay, Long Island, was leased for a term of 5 years plus option. The property features 1,000 square feet of space with an asking rent of $28 per square foot. The deal involved Lisa Binder as the landlord and Zac DelVecchio as the tenant. The transaction was facilitated by brokers Luca DiCiero, Giuseppe Gregorio, and Nicholas Evangelista of NY Space Finders.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Address: 53 Spring Street
  • Market: Oyster Bay, Long Island
  • Landlord: Lisa Binder
  • Tenant: Zac DelVecchio
  • Brokers: Luca DiCiero, Giuseppe Gregorio & Nicholas Evangelista - NY Space Finders
  • Asking Rent: $28/ft
  • Lease Type: Retail Lease
  • Lease Term: 5 Years plus option

The individuals involved in the deal, Luca DiCiero, Giuseppe Gregorio, and Nicholas Evangelista, served as the representatives for NY Space Finders, ensuring a successful lease agreement between Lisa Binder and Zac DelVecchio for the retail space at 53 Spring Street.

Players

Luca DiCiero

NY Space Finders

Broker

$124.3M

vol

152 deals

Broker

Oyster Bay 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

566535.71%

Cash-on-Cash

-161917.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93