The Real Deal announces a 99-year ground lease brokered by Skyline Properties’ Robert Khodadadian. An out-of-town retail operator inked the deal for the Rosen family’s Bargain World post in W125th St. and plans to convert the building’s ground floor into one large retail space.
Tenant inks 99-year ground lease for Bargain World spot
An out-of-town retail operator has inked a 99-year triple-net ground lease for the Rosen family’s Bargain World spot on Harlem’s West 125th Street.
Skyline Properties’ Robert Khodadadian was the broker on the 4-14 West 125th Street deal and told the New York Observer that the roughly 30,000-square-foot building will be delivered vacant. The taking rent for the entire property is $25 per square foot, or $60 per square foot calculating the most valuable 8,935-square-foot chunk of ground-floor retail space, according to the New York Observer.