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80 Nardozzi Pl, New Rochell...

Simone Development Leases Retail Space To My Salon Suite In New Rochelle
LEASEDRetail

Simone Development Leases Retail Space To My Salon Suite In New Rochelle

80 Nardozzi Pl, New Rochelle, NY, 108...

Building Size

7,345 SF

Asset Type

Retail

Closing

Jan 24, 2022

AI

Located at 80 Nardozzi Place in New Rochelle, NY, the property involved in the lease is a modern commercial space owned by Simone Development Companies. The asset boasts 44,000 square feet of retail space with unique design details, such as 25' clear ceiling heights and prominent signage along I-95. The recent lease agreement with My Salon Suite marks the occupancy of 7,345 square feet within this property.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Tenant: My Salon Suite
  • Landlord: Simone Development Companies
  • Square Feet: 7345
  • Tenant's Rep: Thomas R. Zuber(Fairfield Retail Partners)
  • Landlord's Rep: Katelin Van Voorhis(RM Friedland), David Scotto(RM Friedland)
  • Brokers: Katelin Van Voorhis(RM Friedland)

The lease negotiations for this property were handled by Katelin Vanvoorhis and David Scotto of RM Friedland LLC, representing the ownership. On the other side, My Salon Suite was skillfully represented by Thomas R. Zuber from Fairfield Retail Partners LLC. The deal showcases a strategic move by both the tenant and the landlord, with My Salon Suite expanding its presence in New Rochelle and Simone Development Companies continuing to attract diverse and dynamic businesses to their commercial spaces.

Players

David Scotto

Broker

$19M

vol

4 deals

Broker
SD
Simone DevelopmentLandlord
MS
MY SALON SuiteTenant

New Rochelle 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