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
New Rochelle Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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