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502 5th Avenue

Downtown Pain Physicians Signs Ground Lease For Retail Space In Park Slope, Brooklyn
LEASEDMixed-use

Downtown Pain Physicians Signs Ground Lease For Retail Space In Park Slope, Brooklyn

502 5th Avenue

$75

$75/SF

Building Size

3,200 SF

Asset Type

Mixed-use

Closing

Nov 13, 2023

AI

The retail property located at 502 5th Avenue in Park Slope, Brooklyn has been leased. The property spans approximately 3,200 square feet and was leased as a ground lease.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not available
  • Address: 502 5th Avenue, Park Slope, Brooklyn
  • Market: Park Slope, Brooklyn
  • Landlord: Ariel Akkad - HH Equities
  • Tenant: Downtown Pain Physicians
  • Asking Rent: $75/ft
  • Lease Type: Ground Lease

The landlord for this property is Ariel Akkad of HH Equities. The tenant is Downtown Pain Physicians. Representing the landlord in this lease transaction are Solomon Tbeile and Ike Bibi from Kassin Sabbagh Realty. Raymond Balassiano and Michael Hymowitz from LSL Advisors acted as the tenant's representatives.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker

Ariel Akkad

HH Equities

Landlord

$21.3M

vol

5 deals

Landlord

New York City 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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93