Paths Management Services Leases Retail Space To Morris Avenue Parking In Bronx For $25/ft
655 Morris Avenue
$25
$25/SF
Building Size
27,000 SF
Asset Type
Retail
Closing
Aug 12, 2025
About this deal
AI
The property asset involved in the transaction is located at 655 Morris Avenue in the Bronx, featuring a retail space measuring 27,000 square feet. The asking rent for this property is set at $25 per square foot, and the lease type is classified as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $25/ft
- Address: 655 Morris Avenue
- Market: Bronx
- Landlord: Paths Management Services
- Tenant: Morris Avenue Parking
- Landlord Representative: Michael Paster & Aric Trakhtenberg - Newmark
Michael Paster and Aric Trakhtenberg from Newmark represent the landlord, Paths Management Services, in this leasing transaction with the tenant, Morris Avenue Parking.
Players
Bronx 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
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93