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
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.
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