Updated May 13, 2026
Martin Palmeri Leases Industrial Space To Derek Chan At 76 Apollo Street In Brooklyn
76 Apollo Street
$200,000
$200,000/SF
Building Size
8,500 SF
Asset Type
Industrial
Closing
Apr 30, 2026
About this deal
AI
The property asset involved in this lease transaction is an industrial space located at 76 Apollo Street in the Brooklyn market. The lease type is a Modified Gross Lease, with an asking rent of $24 per square foot for a total area of 8,500 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $24/ft
- Address: 76 Apollo Street
- Market: Brooklyn
- Landlord: Martin Palmeri
- Tenant: Derek Chan
- Broker: John Oliveri - STL Realty LLC
John Oliveri of STL Realty LLC served as the sole broker in this transaction, representing both the landlord, Martin Palmeri, and the tenant, Derek Chan, throughout the negotiation process.
On the Map
$200,000
$200,000/SF
Industrial
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Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
79.31%
Cash-on-Cash
-22.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93