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191 Patchen Avenue, Brookly...

Safe Guard Management Leases Mixed-Use Property To Prodigy Prep In Stuyvesant Heights
LEASEDMixed-use

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

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:

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.

Players

Joseph DiPiazza

EXR

Broker

$50.6M

vol

36 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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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