EXRSomerset Represents SouthBoxGym In Lease At 171 Lincoln Avenue In Mott Haven
Building Size
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Asset Type
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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
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