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485 Fulton Street

Updated Oct 29, 2024

Daily Deals Leases 30,000 SF Retail Space In Downtown Brooklyn
LEASEDRetail

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

David Sabbagh

Kassin Sabbagh Realty

Broker

62 deals

Broker

Medford Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $50 per square foot on a published $50 for 30,000 square feet (2023).

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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

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