Downtown Brooklyn Organic Signs Lease For Mixed-Use Space At 24 4th Avenue
24 4th Ave, Brooklyn, NY 11217, USA
Building Size
4,750 SF
Asset Type
Mixed-use
Closing
Aug 6, 2020
About this deal
AI
Located at 24 4th Avenue in Brooklyn, this mixed-use property was recently leased. The property, owned by Adam America, has a total square footage of 4,750. The ground floor spans 3,500 square feet, while the below grade level measures 1,250 square feet. The asking rent for this space was $125 per square foot. The tenant, Downtown Brooklyn Organic, will be occupying the premises.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: Not mentioned
- Address: 24 4th Avenue, Brooklyn
- Market: Brooklyn
- Asking Rent: $125 per square foot
- Square Footage: 4,750 (3,500 SF - ground floor, 1,250 - below grade)
- Tenant: Downtown Brooklyn Organic
- Landlord: Adam America
Brendan Thrapp and Nate Mallon from EXRNY served as the brokers in this deal. For more information, interested parties can contact Brendan Thrapp at (201) 787-9679 or [email protected], and Nate Mallon at (860) 416-7288 or [email protected].
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