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.
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
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93