Transcendental Meditation Signs Lease At 416 Atlantic Avenue In Downtown Brooklyn
416 Atlantic Avenue, Brooklyn, NY 11217
Building Size
1,500 SF
Asset Type
Mixed-use
Closing
Oct 7, 2018
About this deal
AI
Transcendental Meditation has signed a lease for a 1,500 square foot space located at 416 Atlantic Avenue in Downtown Brooklyn. The mixed-use property was leased for a term of 5 years with an asking rent of $64 per square foot.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: 10/08/2018
- Address: 416 Atlantic Avenue
- Market: Downtown Brooklyn
- Tenant: Transcendental Meditation
- Landlord: 416 Atlantic Avenue LLC - Tobias Kruhm
- Brokers: Nicole Liebman & Allie Beyda of Hudson
- Asking Rent: $64 per square foot
- Size: 1,500 square feet
Nicole Liebman and Allie Beyda of Hudson represented both the landlord, 416 Atlantic Avenue LLC, and the tenant, Transcendental Meditation, in this lease deal.
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