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111-113 Prospect Place

The Joint Chiropractic Leases Mixed-use Space In Prospect Heights, Brooklyn For $96/ft. Wolf Sicherman Is The Landlord
LEASEDMultiFamily

The Joint Chiropractic Leases Mixed-use Space In Prospect Heights, Brooklyn For $96/ft. Wolf Sicherman Is The Landlord

111-113 Prospect Place

$96

$96/SF

Building Size

1,000 SF

Asset Type

MultiFamily

Closing

Aug 1, 2023

AI

The mixed-use property located at 111-113 Prospect Place in Prospect Heights, Brooklyn, has been leased. The property, spanning approximately 1,000 square feet, was leased by The Joint Chiropractic. The landlord, Wolf Sicherman, was represented by Richard Silverman of Silverline Realty Group, while the tenant was represented by Marisa Simkin and Alex Turboff of Retail By Mona.

Summary of transation details

The deal was facilitated with Richard Silverman representing the landlord, Wolf Sicherman. Marisa Simkin and Alex Turboff, from Retail By Mona, provided representation for the tenant, The Joint Chiropractic. The lease agreement for the mixed-use property was finalized at an asking rent of $96/ft for the 1,000 square feet space.

Players

Richard Silverman

Silverline Realty Group

Broker

7 deals

Broker

Wolf Sicherman

Landlord

4 deals

Landlord

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

165239.58%

Cash-on-Cash

-47225.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93