Nicholas Tishuk's Bedford Stuyvesant New Beginnings Charter School Secures 35-Year Lease In Williamsburg
217 North 10th Street
$70
Building Size
—
Asset Type
Mixed-use
Closing
Mar 8, 2024
About this deal
AI
The mixed-use property located at 217 North 10th Street in Williamsburg was leased to Bedford Stuyvesant New Beginnings Charter School for a 35-year term. The 51,000 square foot space was secured at an asking rent of approximately $70 per square foot. The building was designed by Morris Adjmi.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Landlord: Largo
- Tenant: Nicholas Tishuk - Bedford Stuyvesant New Beginnings Charter School
- Landlord's Representatives: Jason Frazier & Jesse de la Rama - CBRE
- Tenant's Representative: Josh Berger - Norman Bobrow & Company
- Address: 217 North 10th Street
- Market: Williamsburg
- Asking Rent: $70/ft
- Size: 51,000 square feet
- Lease Term: 35-year lease
The lease deal was facilitated with the help of Jason Frazier and Jesse de la Rama from CBRE representing the landlord, Largo. On the tenant's side, Josh Berger from Norman Bobrow & Company acted as the representative for Nicholas Tishuk, the school's leader.
On the Map
$70
Mixed-use
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Brooklyn Mixed-use Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93