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171 Lincoln Avenue

EXRSomerset Represents SouthBoxGym In Lease At 171 Lincoln Avenue In Mott Haven
LEASED

EXRSomerset Represents SouthBoxGym In Lease At 171 Lincoln Avenue In Mott Haven

Building Size

Asset Type

Closing

Feb 11, 2020

AI

171 Lincoln Avenue, located in the Mott Haven market, recently closed a transaction. The industrial property, spanning 3,000 square feet, was involved in the deal. The deal was facilitated by the brokerage firm EXR Somerset, with Andrew Roth as the representative. The transaction details include an asking rent of $24 per square foot.

Summary of transaction details

  • Property Type: Industrial
  • Address: 171 Lincoln Avenue
  • Market: Mott Haven
  • Broker: Andrew Roth - EXR Somerset
  • Asking Rent: $24 SF
  • Square Footage: 3,000

The tenant, SouthBoxGym, represented by Eric Kelly, entered into the deal with landlord Angie Ortega of Angies Warehouse LLC. The involvement of these individuals highlights the parties involved in the transaction.

Players

Andrew J. Roth

Somerset Residential

Broker

$11.5M

vol

13 deals

Broker

Angie Ortega

Landlord

$7M

vol

2 deals

Landlord

Market CRE Market Snapshot

Boundary boundary · CRE · 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