Updated Dec 4, 2024
NHS Brooklyn Signs Modified Gross Lease At 1923 Surf Avenue, Coney Island, Brooklyn
1923 Surf Avenue
$40
$40/SF
Building Size
2,000 SF
Asset Type
MultiFamily
Closing
Dec 5, 2023
About this deal
AI
The multifamily property located at 1923 Surf Avenue in Coney Island, Brooklyn has been leased. The landlord, LM Development, has entered into a lease agreement with the tenant, NHS Brooklyn. The lease was facilitated by Joseph Cohen of Tri State Commercial Realty, representing the landlord, and Meyer Dagmy of MOD, representing the tenant. The lease is a Modified Gross Lease with an asking rent of $40 per square foot for a total of 2,000 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Address: 1923 Surf Avenue, Coney Island, Brooklyn
- Market: Coney Island, Brooklyn
- Landlord: LM Development
- Tenant: NHS Brooklyn
- Landlord's Rep: Joseph Cohen - Tri State Commercial Realty
- Tenant's Rep: Meyer Dagmy - MOD
- Asking Rent: $40/ft
- Lease Type: Modified Gross Lease
In this lease transaction, Joseph Cohen of Tri State Commercial Realty represented LM Development, the landlord. Meyer Dagmy of MOD represented the tenant, NHS Brooklyn. The lease agreement was a Modified Gross Lease with an asking rent of $40 per square foot for a total space of 2,000 square feet.
On the Map
$40
$40/SF
MultiFamily
View full map
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Lease transactions
Loading comparables…
Deal FAQ
Visit Meyer Dagmy to view all their deals.
Browse Brooklyn multifamily leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93