Einhorn Development Leases Mixed-Use Space To Professional Millwork At 124 4th Ave Brooklyn
601 Baltic Street
$100
$100/SF
Building Size
1,500 SF
Asset Type
Mixed-use
Closing
Feb 2, 2025
AI
The property involved in the transaction is a mixed-use asset located at 124 4th Ave in Brooklyn. The asking rent for the space is $100 per square foot, with a total square footage of 1,500. The lease type for this transaction is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $150,000
- Address: 124 4th Ave
- Market: Brooklyn
- Landlord: Einhorn Development
- Tenant: Professional Millwork
- Landlord's Representative: Brendan Thrapp @BThrapp - Verada
- Tenant's Representative: Eddie Mamiye - MOD
The transaction featured key representatives including Brendan Thrapp from Verada, who acted on behalf of the landlord, Einhorn Development, and Eddie Mamiye from MOD, who represented the tenant, Professional Millwork. The agreement was finalized on February 2, 2025.
Players
Brooklyn 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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93