Tesla Leases Retail Space At 92 9th Street In Brooklyn With Landlord Joseph Hamway
92 9th Street
$45
$45/SF
Building Size
80,000 SF
Asset Type
Industrial
Closing
Jul 1, 2024
AI
This retail asset located at 92 9th Street in Brooklyn has a total area of 80,000 square feet and is under a modified gross lease agreement. The asking rent for this property is set at $45 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,600,000
- Landlord: Joseph Hamway
- Tenant: Tesla
- Asking Rent: $45/ft
- Lease Type: Modified Gross Lease
- Market: Brooklyn
- Brokers: Brett Weinblatt & Ralph Hanan - Compass
The deal involves notable individuals including landlord Joseph Hamway and tenant Tesla, represented by brokers Brett Weinblatt and Ralph Hanan from Compass. This transaction highlights a key interaction between a well-known tenant and its strategic location in Brooklyn.
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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93