PT Of The City Leases Mixed-Use Property In Sunset Park, Brooklyn
5418 5th Avenue
$75
$75/SF
Building Size
2,000 SF
Asset Type
Mixed-use
Closing
Jun 28, 2024
AI
The mixed-use property located at 5418 5th Avenue in Sunset Park, Brooklyn has been leased. The landlord, Hantzipetros Family, has signed a Modified Gross Lease agreement with the tenant, PT Of The City. The lease encompasses a space spanning 2,000 square feet, with an asking rent of $75 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Address: 5418 5th Avenue
- Market: Sunset Park, Brooklyn
- Landlord: Hantzipetros Family
- Tenant: PT Of The City
- Landlord's Rep: Meyer Dagmy & Isaac Bijou - MOD
- Tenant's Rep: Dorel Melloul - KSR
- Lease Type: Modified Gross Lease
- Asking Rent: $75 per square foot
- Space: 2,000 square feet
The transaction was facilitated with Meyer Dagmy & Isaac Bijou from MOD representing the landlord, while Dorel Melloul from KSR acted as the tenant's representative. This lease marks a significant agreement between the Hantzipetros Family and PT Of The City, shaping the future of this commercial space in Sunset Park, Brooklyn.
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93