facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Multifamily

/

Lease

/

2442 Ocean Avenue

Utopia Swim Inc Leases Multifamily Property At 2442 Ocean Avenue, Brooklyn
LEASEDMultiFamily

Utopia Swim Inc Leases Multifamily Property At 2442 Ocean Avenue, Brooklyn

2442 Ocean Avenue

$40

$40/SF

Building Size

3,000 SF

Asset Type

MultiFamily

Closing

Jun 20, 2024

AI

The property at 2442 Ocean Avenue, located in Brooklyn, is a multifamily asset that was recently leased under a Modified Gross Lease agreement. The deal involved Lay Assets as the landlord and Utopia Swim Inc as the tenant. The leasing transaction was facilitated by Michael Gammal of Swift Retail Advisors.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Address: 2442 Ocean Avenue
  • Market: Brooklyn
  • Landlord: Lay Assets
  • Tenant: Utopia Swim Inc
  • Broker: Michael Gammal - Swift Retail Advisors
  • Asking Rent: $40/ft
  • SF: 3,000
  • Lease Type: Modified Gross Lease

Michael Gammal from Swift Retail Advisors represented the involved parties in the leasing transaction, showcasing his expertise in navigating the deal between Lay Assets and Utopia Swim Inc for the property at 2442 Ocean Avenue.

Players

Michael Gammal

Swift Real Estate Advisors

Broker

$1.6M

vol

17 deals

Broker

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

Loading comparables…

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