Sterna Costa Leases Mixed-Use Space At 296 Atlantic Avenue To Aurora Nail Salon In Brooklyn
296 Atlantic Avenue
$100
$100/SF
Building Size
1,500 SF
Asset Type
Mixed-use
Closing
Sep 15, 2024
AI
The property involved in this transaction is a mixed-use asset located at 296 Atlantic Avenue in Brooklyn. It is a modified gross lease with an asking rent of $100 per square foot for a total area of 1,500 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $100/ft
- Lease Type: Modified Gross Lease
- Address: 296 Atlantic Avenue
- Market: Brooklyn
- Landlord: Sterna Costa
- Tenant: Aurora Nail Salon
- Landlord's Representative: Eddie Mamiye, Meyer Dagmy & Isaac Bijou - MOD
- Tenant's Representative: Estelle Holm Pedersen - Ripco
The key individuals involved in this transaction are Sterna Costa as the landlord and Aurora Nail Salon as the tenant. The landlord's interests were represented by Eddie Mamiye, Meyer Dagmy, and Isaac Bijou from MOD, while Estelle Holm Pedersen from Ripco represented the tenant.
Players
Brooklyn 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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93