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3421 Glenwood Road

The Reggio Emilia Montessori Center Leases Mixed-Use Property In East Flatbush
LEASEDMixed-use

The Reggio Emilia Montessori Center Leases Mixed-Use Property In East Flatbush

3421 Glenwood Road

$41

$41/SF

Building Size

3,850 SF

Asset Type

Mixed-use

Closing

Apr 2, 2024

AI

The mixed-use property located at 3421 Glenwood Road in East Flatbush, Brooklyn, was leased to The Reggio Emilia Montessori Center. The landlord, Asher Berkowitz, facilitated the transaction with an asking rent of $41 per square foot for the 3,850-square-foot space.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: Not specified
  • Address: 3421 Glenwood Road
  • Market: East Flatbush, Brooklyn
  • Landlord: Asher Berkowitz
  • Tenant: The Reggio Emilia Montessori Center
  • Broker: Jeff Goncalves - MySpace NYC
  • Lease Type: Modified Gross Lease
  • Lease Term: 10 Years
  • Asking Rent: $41/ft ~ SF: 3,850

Jeff Goncalves from MySpace NYC represented the landlord, Asher Berkowitz, in the lease deal with The Reggio Emilia Montessori Center. The 10-year lease agreement was structured as a Modified Gross Lease, highlighting the commitment of the parties involved in this transaction.

Players

Jeff Goncalves

MySpace NYC

Broker

1 deal

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

386902.44%

Cash-on-Cash

-110577.90%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93