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
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