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Mitchell Spitz Leases Mixed-Use Property To Shay Guetta In Brooklyn

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LEASED
$60

New York

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Mixed-use8,000 SF
Leased 06/05/2024
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Property Image
LEASED

Mitchell Spitz Leases Mixed-Use Property To Shay Guetta In Brooklyn

1359 Coney Island Avenue & 1361 Coney Island Avenue

See Similar Deals
Mixed-use8,000 SF
Leased 06/05/2024
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$60
Total Square Footage:8,000 SF
Transaction Type:Lease

The mixed-use property located at 1359-1361 Coney Island Avenue in Brooklyn was involved in a lease transaction. The landlord, Mitchell Spitz, leased the property to tenant Shay Guetta with the representation of broker Michael Gammal from Swift Retail Advisors. The lease, a Modified Gross Lease, had an asking rent of $60 per square foot for a total space of 4,000 square feet.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: Not specified
  • Address: 1359-1361 Coney Island Avenue
  • Market: Brooklyn
  • Landlord: Mitchell Spitz
  • Tenant: Shay Guetta
  • Tenant's Rep: Not specified
  • Broker: Michael Gammal - Swift Retail Advisors
  • Asking Rent: $60/ft
  • Lease Type: Modified Gross Lease

Michael Gammal from Swift Retail Advisors played a crucial role in facilitating the lease transaction between landlord Mitchell Spitz and tenant Shay Guetta. Mitchell Spitz, the landlord, has successfully secured a tenant for this mixed-use property in Brooklyn. Shay Guetta, on the other hand, found a new space at the property, thanks to the efforts of the broker, Michael Gammal.

Players

Michael Gammal
17 deals$1.6M volume(917) 692-4980
BROKER

Details

LEASED
IMAGE: Michael Gammal DATE: 06/05/2024 ADDRESS: 1359-1361 Coney Island Avenue MARKET: Brooklyn ASSET TYPE: Mixed-use LANDLORD: Mitchell Spitz TENANT: Shay Guetta BROKER: Michael Gammal (@Michael_Gammal) - Swift Retail Advisors (@Swift_Advisors) ASKING RENT: $60/ft ~ SF: 4,000 LEASE TYPE: Modified Gross Lease

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Deal Type
Effective Rent (Annual)

$550,266.21

Total Lease Value

$5,502,662.07

Net Landlord Cash Flow$550,266.21