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816 Washington Ave, Brookly...

The Social Leases 2700 Sq Ft Commercial Space In Brooklyn To ELH Management
LEASEDCommercial

The Social Leases 2700 Sq Ft Commercial Space In Brooklyn To ELH Management

816 Washington Ave, Brooklyn, NY, 11...

Building Size

2,700 SF

Asset Type

Commercial

Closing

Nov 22, 2023

AI

The commercial property located at 816 Washington Ave, Brooklyn, NY, 11238, with a total area of 2,700 square feet, was leased in a recent transaction. The tenant, The Social, secured this space from the landlord, ELH Management. The deal was facilitated by Tenant's Representative Peter Schubert of Terra CRG, and on the landlord's side, representation was provided by Ryan Parsons of SVN, along with Timothy D. King from SVN.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: Not Applicable
  • Market: Brooklyn
  • Tenant: The Social
  • Landlord: ELH Management
  • Tenant's Rep: Peter Schubert (Terra CRG)
  • Landlord's Rep: Ryan Parsons (SVN), Timothy D. King (SVN), Timothy "Tim" King (SVN)
  • Square Feet: 2700

In this leasing agreement, the tenant, The Social, found a suitable location at 816 Washington Ave, Brooklyn, NY, 11238, with the assistance of their representative, Peter Schubert from Terra CRG. ELH Management served as the landlord, and their representation was handled by Ryan Parsons and Timothy D. King, both from SVN.

Players

Peter Schubert

Terra CRG

Broker

$2.2M

vol

7 deals

Broker
EM
ELH ManagementLandlord

Brooklyn Commercial Market Snapshot

Boundary boundary · Commercial · 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