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774 Broadway, Brooklyn, NY ...

Tru Medical Signs 10-Year Lease For Retail Space At 774 Broadway In Bushwick, Brooklyn
LEASEDMixed-use

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

Dov Bleich

Tri State Commercial Realty

Broker

$12.4M

vol

24 deals

Broker

Albert Srour

Landlord

$107.3M

vol

8 deals

Landlord

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