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3848 Nostrand Ave, Brooklyn...

Aurora Energy Advisors Leases 5700 SF MultiFamily Space At 3848 Nostrand Ave, Brooklyn
LEASEDMultiFamily

Aurora Energy Advisors Leases 5700 SF MultiFamily Space At 3848 Nostrand Ave, Brooklyn

3848 Nostrand Ave, Brooklyn, NY, 112...

Building Size

5,700 SF

Asset Type

MultiFamily

Closing

Jul 12, 2016

AI

Located at 3848 Nostrand Ave in Sheepshead Bay, Brooklyn, NY, this MultiFamily property spans 5,700 square feet. The lease was signed by Aurora Energy Advisors, with CPEX Real Estate's Richard Novak and Rosanna Tapang representing the landlord, Acadia Realty Trust, while Integrity Real Estate Partners' David West served as the tenant's representative.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: Not provided
  • Address: 3848 Nostrand Ave, Brooklyn, NY, 112...
  • Market: Brooklyn
  • Tenant's Rep: David West (Integrity Real Estate Partners)
  • Landlord's Rep: Richard Novak (Cushman & Wakefield), Rosanna Tapang (Red Stone Partners)
  • Tenant: Aurora Energy Advisors
  • Landlord: Acadia Realty Trust
  • Square Feet: 5700

A notable aspect of this transaction was the representation of both the landlord and the tenant. Aurora Energy Advisors, a tenant in the deal, was represented by David West from Integrity Real Estate Partners. On the other side, the landlord, Acadia Realty Trust, was represented by Richard Novak from CPEX Real Estate, along with Rosanna Tapang from Red Stone Partners, showcasing the collaboration between key individuals and companies in finalizing the lease agreement.

Players

David West

Integrity Real Estate Partners

Broker

1 deal

Broker
Acadia Realty Trust
Acadia Realty TrustBrokerage
Acadia Realty Trust
Acadia Realty TrustLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93