The Neighborhood Acquires Mixed-Use Property In Brooklyn From Rosina Spector For Lease-to-Own Transaction
177 South 4th Street
Building Size
17,860 SF
Asset Type
Mixed-use
Closing
Aug 4, 2026
About this deal
AI
The property at 177 South 4th Street, located in the Brooklyn market, consists of a mixed-use asset featuring one commercial unit with a total square footage of 17,860. This closed transaction involved a lease-to-own arrangement with The Neighborhood, a nonprofit organization aimed at converting the property into a Jewish Community Center.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified
- Buyer: The Neighborhood
- Seller: Rosina Spector
- Buyer's Representative: Daniel Lebor - Terra CRG
- Seller's Representative: Nathan Horne - Compass
The deal was notable for its complexity, encompassing a lengthy transaction process involving four law firms, title, architects, and environmental consultants. The transaction included a 30-year lease structure with a staggered purchase price and a significant option fee paid upfront. The buyer's representative, Daniel Lebor, highlighted the collaborative effort required to navigate prior legal challenges associated with the property.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale 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