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639 Lorimer Street, Brookly...

Reunion Leases Mixed-Use Space In Williamsburg At 639 Lorimer St
LEASEDMixed-use

Reunion Leases Mixed-Use Space In Williamsburg At 639 Lorimer St

639 Lorimer Street, Brooklyn, New York 11211, United States

$99

$99/SF

Building Size

1,600 SF

Asset Type

Mixed-use

Closing

Nov 18, 2022

AI

639 Lorimer Street in Williamsburg has been leased to Reunion, a mixed-use property consisting of a commercial and residential space. The lease transaction was facilitated by Tri State Commercial, with Eddie Keda representing the landlord, Nathan Todd, and Jack Mosseri from Silverline Realty Group representing the tenant. The lease was signed on 11/18/2022.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Date: 11/18/2022
  • Address: 639 Lorimer Street, Williamsburg
  • Landlord: Nathan Todd
  • Tenant: Reunion
  • Landlord's Representative: Eddie Keda - Tri State Commercial
  • Tenant's Representative: Jack Mosseri - Silverline Realty Group
  • Asking Rent: $99/ft.
  • Square Footage: 1,600 SF

Eddie Keda from Tri State Commercial and Jack Mosseri from Silverline Realty Group played crucial roles in facilitating this lease deal between Nathan Todd and Reunion. The lease agreement was set at an asking rent of $99 per square foot, with a total of 1,600 square feet leased. The collaboration between the landlords, tenant, and their representatives resulted in the successful negotiation of this mixed-use property lease.

Players

Jack Mosseri

Meridian Capital Group

Broker

4 deals

Broker

Nathan Todd

Landlord

2 deals

Landlord

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

160232.32%

Cash-on-Cash

-45794.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93