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626 Sheepshead Bay Rd, Broo...

Café Leases 1129 Square Feet At 626 Sheepshead Bay Rd Brooklyn With Neptune South Development
LEASED

Café Leases 1129 Square Feet At 626 Sheepshead Bay Rd Brooklyn With Neptune South Development

626 Sheepshead Bay Rd, Brooklyn, NY...

Building Size

1,129 SF

Asset Type

Closing

Nov 19, 2023

AI

The lease transaction involves a property located at 626 Sheepshead Bay Rd, Brooklyn, NY, situated in the Brooklyn market. The leased space encompasses 1,129 square feet. The landlord for this transaction is Neptune South Development.

Summary of transaction details:

This transaction highlights key representatives involved; Danielle Winick from Winick Realty Group and Darrell Rubens from Newmark represent the landlord in this leasing agreement with the tenant being a café establishment. Their roles are crucial in facilitating the lease arrangement between Neptune South Development and the café.

Players

Darrell Rubens

Newmark

Broker

10 deals

Broker
ND
Neptune South DevelopmentLandlord

Brooklyn 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