Safe Guard Management Leases Mixed-Use Property To Prodigy Prep In Stuyvesant Heights
191 Patchen Avenue, Brooklyn, NY, USA
Building Size
1,669 SF
Asset Type
Mixed-use
Closing
Jan 31, 2021
About this deal
AI
191 Patchen Avenue in Stuyvesant Heights has recently been leased. The mixed-use property was leased to Prodigy Prep. The tenant will be occupying a space of 1,669 square feet. The lease was facilitated by brokers David Quigua and Joseph DiPiazza from EXRNY. The asking rent for the property was $31 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Address: 191 Patchen Avenue
- Market: Stuyvesant Heights
- Tenant: Prodigy Prep
- Brokers: David Quigua ([email protected]) and Joseph DiPiazza ([email protected])
- Asking Rent: $31 per square foot
The lease transaction on 191 Patchen Avenue was successfully completed with Prodigy Prep as the tenant. The lease was facilitated by David Quigua and Joseph DiPiazza from EXRNY. Safe Guard Management, represented by Iskyo Aronov, acted as the landlord in this deal.
On the Map
Mixed-use
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New York Mixed-use Market Snapshot
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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