The Learning Experience Signs Lease For Mixed-Use Space In Bay Ridge, Brooklyn
8904 5th Avenue
$11,800,000
$29/SF
Building Size
400,000 SF
Asset Type
Mixed-use
Closing
Feb 24, 2020
About this deal
AI
Located at 8904 Fifth Avenue in Bay Ridge, Brooklyn, this mixed-use property has recently been leased. The property spans a total of 12,095 square feet. The asking rent for this space 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 Rep: Ralph Hanan, Brett Weinblatt - @CompassCommercialNYC
- Tenant's Rep: Nick Vanella
Ralph Hanan and Brett Weinblatt from Compass Commercial NYC represented the landlord, Mike Marino, in this lease transaction. For more information, you can visit CompassCRENYC.com.
On the Map
$11,800,000
$29/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93