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 🧆 🥙. 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
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