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601 Baltic Street

Einhorn Development Leases Mixed-Use Space To Professional Millwork At 124 4th Ave Brooklyn
LEASEDMixed-use

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

Brendan Thrapp

Broker

$7.7M

vol

19 deals

Broker
Verada
VeradaBrokerage

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