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
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