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603 Burnside Avenue, Inwood...

Bingo Wholesale Leases Retail Space At 603 Burnside Ave. In Five Towns With Urban Edge As Landlord
LEASEDRetail

Bingo Wholesale Leases Retail Space At 603 Burnside Ave. In Five Towns With Urban Edge As Landlord

603 Burnside Avenue, Inwood, New York 11096, United States

Building Size

61,669 SF

Asset Type

Retail

Closing

May 2, 2022

AI

The retail property located at 603 Burnside Ave in the Five Towns market has recently been leased. The lease transaction was facilitated by Edward Gottlieb of Schuckman Realty Inc. representing the tenant, Bingo Wholesale. The landlord of this property is Urban Edge.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 05/03/2022
  • Address: 603 Burnside Ave
  • Market: Five Towns

The asking rent for this retail space was $20 per square foot. The total square footage of the property is 61,669 square feet.

Edward Gottlieb, from Schuckman Realty Inc., played a key role as the tenant's representative in this lease transaction. The involvement of these individuals and companies highlights the collaborative effort behind finalizing the lease agreement.

Players

Edward Gottlieb

Schuckman Realty

Broker

$5.3M

vol

4 deals

Broker
Urban Edge Properties
Urban Edge PropertiesLandlord

Inwood 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93