facebook


Go ProSubmit a deal
Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Lease

/

1359 Coney Island Avenue

Updated Dec 4, 2024

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

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

1359 Coney Island Avenue & 1361 Coney Island Avenue

Building Size

4,000 SF

Asset Type

Mixed-use

Closing

Jun 5, 2024

About this deal

AI

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.

Instagram

On the Map

Open live map

Mixed-use

View full map

Players

Michael Gammal

Kassin Sabbagh Realty

Broker

$1.6M

vol

20 deals

Broker
Bilt advertisement

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

Loading comparables…

Deal FAQ

About $60 per square foot for 8,000 square feet (2024).

Visit Michael Gammal to view all their deals.

Browse Brooklyn mixed use leases on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets