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640 Parkside Avenue, Little...

A3 Productions Leases Mixed-Use Space At 640 Parkside Avenue & 1877 Webster Avenue In Prospect Lefferts Gardens & Mount Hope
LEASEDMixed-use

A3 Productions Leases Mixed-Use Space At 640 Parkside Avenue & 1877 Webster Avenue In Prospect Lefferts Gardens & Mount Hope

640 Parkside Avenue, Little Caribbean, Brooklyn, NY, USA

Building Size

9,200 SF

Asset Type

Mixed-use

Closing

Jul 26, 2021

AI

The mixed-use property located at 640 Parkside Avenue & 1877 Webster Avenue in Prospect Lefferts Gardens & Mount Hope has been leased. The tenant, A3 Productions, has signed a 10-year lease agreement with the landlord, Empire Trust. The leasing transaction was facilitated by brokers Avi Akiva, Chandler Slate, and Rafael Neiman from Tri State Commercial Realty, as well as Mike Gilbert from Gilco Realty. The property spans approximately 9,200 square feet, and the asking rent was $38 per square foot.

Summary of transaction details:

The leasing transaction involving the mixed-use property at 640 Parkside Avenue & 1877 Webster Avenue was successfully executed, with A3 Productions securing a 10-year lease agreement. The brokers involved in the deal, Avi Akiva, Chandler Slate, Rafael Neiman, and Mike Gilbert, played crucial roles in facilitating the transaction. This lease provides A3 Productions with a prime location in Prospect Lefferts Gardens & Mount Hope, allowing them to expand their operations and serve their clients effectively.

Players

Chandler Slate

Tri State Commercial Realty

Broker

$10.7M

vol

33 deals

Broker
AP
A3 ProductionsTenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93