Snipes Leases Retail Space In Bronx, NYC For $400,000/year
977 Southern Boulevard, Bronx, NY 10459
Building Size
4,000 SF
Asset Type
Retail
Closing
Jun 1, 2020
AI
977 Southern Blvd is a retail property located in the Bronx market. The transaction took place on 06/01/2021.
Summary of transaction details:
- Property Type: Retail
- Tenant: Snipes 👟
- Landlord: Jem Realty - Joseph Jemal
- Brokers: Solomon Sharaby, Albert Manopla, Jack Khaski & Michael Katz @Kassin_Sabbagh_Realty
- Asking Rent: $100/ft. ~ SF: 4,000
The tenant for this retail property is Snipes 👟. The landlord is Jem Realty, represented by Joseph Jemal. The brokers involved in the deal were Solomon Sharaby, Albert Manopla, Jack Khaski, and Michael Katz from Kassin_Sabbagh_Realty. The property was leased for an asking rent of $100 per square foot, with a total square footage of 4,000.
Players
New York 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