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
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
Loading comparables…
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