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630 Old Country Rd, Garden ...

Gene Spiegelman Of Ripco Represents Tenant In Lease At 630 Old Country Rd Garden City NY
LEASEDRetail

Gene Spiegelman Of Ripco Represents Tenant In Lease At 630 Old Country Rd Garden City NY

630 Old Country Rd, Garden City, NY 11530

Building Size

68,000 SF

Asset Type

Retail

Closing

Nov 20, 2023

AI

The property involved in this transaction is a retail lease located at 630 Old Country Rd, Garden City, NY 11530. This retail space spans 68,000 square feet and is part of the Roosevelt Field shopping center in Garden City, which features various well-known retailers and dining establishments.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 68,000
  • Address: 630 Old Country Rd, Garden City, NY 11530
  • Market: Garden City
  • Tenant: Century 21 Stores
  • Tenant's Representative: Gene Spiegelman-Ripco
  • Landlord: Simon Property Group

The lease was secured by RIPCO Real Estate for department store chain Century 21 Stores. The store is set to open in the spring of 2021, with Gene Spiegelman of RIPCO acting as the representative for the tenant in this transaction. The landlord, Simon Property Group, is the owner of the Roosevelt Field shopping center.

Players

Gene Spiegelman

Ripco

Broker

$30.3M

vol

11 deals

Broker
Simon Property Group
Simon Property GroupBrokerage
Simon Property Group
Simon Property GroupLandlord

Garden City 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