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321 Court Street

Stretch Lab Signs 10-Year Lease For Mixed-Use Property At 321 Court Street In Carroll Gardens, Brooklyn
LEASEDMixed-use

Stretch Lab Signs 10-Year Lease For Mixed-Use Property At 321 Court Street In Carroll Gardens, Brooklyn

321 Court Street

$100

$100/SF

Building Size

2,000 SF

Asset Type

Mixed-use

Closing

Dec 20, 2023

AI

The mixed-use property located at 321 Court Street in Carroll Gardens, Brooklyn has recently been leased. The tenant, Stretch Lab, has signed a 10-year modified gross lease for a space measuring approximately 2,000 square feet. The asking rent for the lease was $100 per square foot.

Summary of transaction details:

  • Property Type: Mixed-use
  • Address: 321 Court Street, Carroll Gardens, Brooklyn
  • Market: Carroll Gardens, Brooklyn
  • Tenant: Stretch Lab
  • Landlord: Joseph Safdie - Court Street Partners
  • Landlord's Rep: Joey Kafif - Safdie Realty Group
  • Tenant's Rep: Chris Walther & Peter Yoon - Ripco
  • Asking Rent: $100/ft
  • Lease Type: Modified Gross Lease
  • Lease Term: 10 years

Safdie Realty Group (SRG), represented by Joey Kafif, served as the landlord's representative in this transaction. They specialize in representing landlords and tenants in various locations including Brooklyn, Bronx, Manhattan, and Queens. For further assistance in finding a new space or leasing out vacant spaces, you can contact Joey Kafif at [email protected].

Players

Joseph Safdie

Safdie Realty Group

Broker

$25.1M

vol

16 deals

Broker
SL
Stretch LabTenant

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