Updated Oct 29, 2024
Daily Deals Leases 30,000 SF Retail Space In Downtown Brooklyn
485 Fulton Street
$50
$50/SF
Building Size
30,000 SF
Asset Type
Retail
Closing
May 1, 2023
About this deal
AI
The retail property located at 485 Fulton Street in Downtown Brooklyn has been leased. The property spans over 30,000 square feet and was leased by the tenant Daily Deals. The landlord in this transaction is Lawrence Jemal. The transaction was facilitated by brokers Solomon Sharaby, David Green, Nathan Aballi, and David Sabbagh from KSR. The asking rent for the lease was $50 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 485 Fulton Street
- Market: Downtown Brooklyn
- Tenant: Daily Deals
- Landlord: Lawrence Jemal
- Brokers: Solomon Sharaby, David Green, Nathan Aballi, and David Sabbagh - KSR
- Asking Rent: $50 per square foot
The leasing transaction for the retail property at 485 Fulton Street was successfully facilitated by brokers Solomon Sharaby, David Green, Nathan Aballi, and David Sabbagh from KSR. Their expertise helped the tenant, Daily Deals, secure the lease agreement with landlord Lawrence Jemal. The property's prime location in Downtown Brooklyn and the negotiated rent of $50 per square foot made it an attractive opportunity for Daily Deals.
Players
Medford 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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93