Tru Medical Signs 10-Year Lease For Retail Space At 774 Broadway In Bushwick, Brooklyn
774 Broadway, Brooklyn, NY 11206, USA
Building Size
5,500 SF
Asset Type
Mixed-use
Closing
Aug 12, 2020
AI
The retail property located at 774 Broadway in Bushwick, Brooklyn has been leased. The lease was signed on 08/13/2020 for a term of 10 years. The tenant, Tru Medical, will occupy a space of 5,500 square feet. The asking rent for the property was $45 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 774 Broadway
- Market: Bushwick, Brooklyn
- Asking Rent: $45 per square foot
- Lease Term: 10 years
- Tenant: Tru Medical
- Landlord: Albert Srour
- Brokers: Dov Bleich, Avi Akiva - Tristate Commercial
Tri State Commercial represented both the tenant and the landlord, Albert Srour, in this transaction. Other tenants, such as Starbucks and Chipotle, are also present in the building where the medical group has leased the space.
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