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341 7th Avenue, Brooklyn, N...

TaimFalafel Leases Mixed-Use Space In Park Slope At 341 7th Avenue With Tenant's Rep Marc Frankel & Landlord's Rep Steven Politis
LEASEDMixed-use

TaimFalafel Leases Mixed-Use Space In Park Slope At 341 7th Avenue With Tenant's Rep Marc Frankel & Landlord's Rep Steven Politis

341 7th Avenue, Brooklyn, NY, USA

Building Size

1,000 SF

Asset Type

Mixed-use

Closing

Jul 1, 2020

AI

341 7th Avenue in Park Slope has recently been leased in a closed transaction. The mixed-use property was leased to @TaimFalafel ๐Ÿง† ๐Ÿฅ™. The landlord in this transaction is George Pantelidis, James Pantelidis, and Peter Pantelidis. The tenant's representative is Marc Frankel, while the landlord's representative is Steven Politis. The lease agreement was signed on 07/01/2021.

Summary of transaction details

  • Property Type: Mixed-use
  • Asking Rent: $120/ft.
  • Square Footage: 1,000
  • Date: 07/01/2021
  • Address: 341 7th Avenue
  • Market: Park Slope

Marc Frankel represented the tenant, @TaimFalafel, while Steven Politis represented the landlord, George Pantelidis, James Pantelidis, and Peter Pantelidis. The lease agreement sets the asking rent at $120 per square foot for a total of 1,000 square feet of space.

Players

Marc Frankel

Newmark

Broker

12 deals

Broker

George Pantelidis

Landlord

2 deals

Landlord

New York Mixed-use Market Snapshot

Boundary boundary ยท Mixed-use ยท 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