Kenny Mak Leases Retail Space In Glen Cove With Luca DiCiero & Giuseppe Gregorio - NY Space Finders
58 Forest Ave Glen Cove, NY 11542, USA
$28
$28/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Aug 11, 2023
About this deal
AI
A retail property located at 58 Forest Avenue in Glen Cove has recently been leased. The property, spanning 1,200 square feet, was leased by tenant Kenny Mak. The landlord for this property is Sal DiMaggio. The lease was facilitated by brokers Luca DiCiero and Giuseppe Gregorio from NY Space Finders. The asking rent for the lease was $28 per square foot.
Summary of transaction details
- Property Type: Retail
- Address: 58 Forest Avenue, Glen Cove
- Tenant: Kenny Mak
- Landlord: Sal DiMaggio
- Brokers: Luca DiCiero & Giuseppe Gregorio from NY Space Finders
- Asking Rent: $28/ft
- Lease Term: 5-year lease with 5-year option
The retail property at 58 Forest Avenue in Glen Cove was leased by Kenny Mak with the assistance of brokers Luca DiCiero and Giuseppe Gregorio from NY Space Finders. The lease agreement includes a term of 5 years with a 5-year option. This transaction signifies an important business deal in the Glen Cove market and demonstrates the ongoing activity in the retail sector in the area.
Players
Glen Cove 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