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296 Atlantic Avenue

Sterna Costa Leases Mixed-Use Space At 296 Atlantic Avenue To Aurora Nail Salon In Brooklyn
LEASEDMixed-use

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:

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

Isaac Bijou

MOD

Broker

$1.4M

vol

39 deals

Broker
Meyer Dagmy
Verified Badge

Meyer Dagmy

MOD

Broker

$5.5M

vol

90 deals

Broker

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