Penelope Fashion Leases Mixed-Use Space In Crown Heights, Brooklyn From DelShah Capital
673 Nostrand Ave., Crown Heights, Brooklyn, NY, USA
Building Size
307 SF
Asset Type
Mixed-use
Closing
Sep 30, 2020
About this deal
AI
A mixed-use property located at 673 Nostrand Ave in Crown Heights, Brooklyn was leased in a closed transaction. The property is owned by DelShah Capital and the tenant is Penelope Fashion. The deal was facilitated by David Quigua of EXR. The asking rent for the property was $60 per square foot, with a total size of 307 square feet. The lease was signed on October 1, 2020.
Summary of transaction details
- Property Type: Mixed-use
- Tenant: Penelope Fashion
- Landlord: DelShah Capital
- Broker: David Quigua of EXR
- Asking Rent: $60 per square foot
- Total Square Footage: 307 sq ft
- Lease Date: October 1, 2020
This lease deal highlights the collaboration between Penelope Fashion and DelShah Capital, with David Quigua from EXR acting as the broker representing the parties involved. The transaction demonstrates the ongoing demand for mixed-use properties in the Crown Heights market in Brooklyn.
Players
New York 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