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1618-1620 Fulton St - The G...

Theradynamics Rehab Management Leases Retail Space On Fulton St. In Bedford-Stuyvesant
LEASEDRetail

Theradynamics Rehab Management Leases Retail Space On Fulton St. In Bedford-Stuyvesant

1618-1620 Fulton St - The Garnet

Building Size

9,841 SF

Asset Type

Retail

Closing

Sep 22, 2022

AI

The retail property located at 1618-1620 Fulton St. in Bedford-Stuyvesant has been leased. The landlord, BFC PARTNERS, was represented by Aric Trakhtenberg, Marc Frankel, and Jeffrey Roseman from Newmark. The tenant, Theradynamics Rehab Management, was represented by George Skaliarinis and Mark Gallucci from KSR. The lease deal was finalized on September 22, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: September 22, 2022
  • Address: 1618-1620 Fulton St.
  • Market: Bedford-Stuyvesant
  • Landlord: BFC PARTNERS - Matthew Stewart
  • Tenant: Theradynamics Rehab Management
  • Tenant's Rep: George Skaliarinis & Mark Gallucci - KSR
  • Landlord's Rep: Aric Trakhtenberg, Marc Frankel & Jeffrey Roseman - Newmark
  • Asking Rent: $45/ft.
  • Square Footage: 9,841 SF

The lease was secured at an asking rent of $45 per square foot for a total area of 9,841 square feet.

Players

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

50 deals

Broker
BFC PARTNERS
BFC PARTNERSLandlord

Market 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93