The Boys’ Club Of New York Signs 25-Year Net Lease For 33,000 Square Feet In Bronx
565 Morris Avenue
Building Size
33,000 SF
Asset Type
Special Purpose
Closing
Jul 16, 2025
AI
The property asset involved in the transaction is a 33,000-square-foot special purpose building located at 565 Morris Avenue in the Bronx. The Boys’ Club of New York has secured a 25-year net lease for the entire building.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: Not specified
- Address: 565 Morris Avenue
- Market: Bronx
- Tenant: The Boys’ Club of New York
- Landlord's Representative: Jordan Kaplan, Jeremy Scholder, Jojo Lewis & Dean Rosenzweig - CBRE
- Tenant's Representative: Stephen Powers, Lindsay Ornstein, Alexander Smith & Chloe Holder - OPEN Impact Real Estate
This lease transaction marks the establishment of The Boys’ Club of New York's third clubhouse, facilitated by the respective representatives from CBRE and OPEN Impact Real Estate.
Players
Bronx Special Purpose Market Snapshot
Boundary boundary · Special Purpose · 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