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8904 5th Avenue

The Learning Experience Leases Mixed-Use Space At 8904 Fifth Avenue In Bay Ridge, Brooklyn
LEASEDMixed-use

The Learning Experience Leases Mixed-Use Space At 8904 Fifth Avenue In Bay Ridge, Brooklyn

8904 5th Avenue

$45

$45/SF

Building Size

12,095 SF

Asset Type

Mixed-use

Closing

Aug 20, 2020

AI

The mixed-use property located at 8904 Fifth Avenue in Bay Ridge, Brooklyn has been leased. The property has a total area of 12,095 square feet. The asking rent for this lease was $45 per square foot.

Summary of transaction details

  • Property Type: Mixed-use
  • Asking Rent: $45
  • Square Footage: 12,095
  • Tenant: The Learning Experience
  • Landlord: Mike Marino
  • Landlord's Representative: Ralph Hanan, Brett Weinblatt - @CompassCommercialNYC
  • Tenant's Representative: Nick Vanella

Ralph Hanan and Brett Weinblatt from Compass Commercial NYC represented the landlord in this lease deal, while Nick Vanella served as the tenant's representative.

Note: For more information, please visit CompassCRENYC.com.

Players

Ralph Hanan

Compass

Broker

$11.8M

vol

10 deals

Broker
The Learning Experience
The Learning ExperienceTenant

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

352511.11%

Cash-on-Cash

-100748.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93