Apple Bank For Savings Leases Retail Space In Babylon For $50/ft. At 8 Little E Neck Road
8 Little East Neck Road, Babylon, NY 11702, USA
Building Size
3,845 SF
Asset Type
Retail
Closing
Jul 7, 2020
About this deal
AI
An Apple Bank For Savings branch in Babylon, located at 8 Little E Neck Road, has recently been leased. The retail space, with a size of 3,845 square feet, was secured by the tenant, Apple Bank For Savings. The landlord for this transaction is A&H Acquisitions, represented by Alex Adjmi. The leasing deal was facilitated by Allie Beyda from Metropolitan Skyline Realty. The asking rent for the space was $50 per square foot.
Summary of transaction details
- Property Type: Retail
- Tenant: Apple Bank For Savings
- Landlord: A&H Acquisitions - Alex Adjmi
- Broker: Allie Beyda - Metropolitan Skyline Realty
- Address: 8 Little E Neck Road
- Market: Babylon
- Asking Rent: $50/ft.
- Square Footage: 3,845
Allie Beyda from Metropolitan Skyline Realty played a crucial role in facilitating the lease transaction between Apple Bank For Savings and A&H Acquisitions. With a size of 3,845 square feet, the retail space at 8 Little E Neck Road in Babylon was highly sought after, resulting in a lease agreement for an asking rent of $50 per square foot.
Players
West Babylon 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