EXR Represents Both Landlord And Tenant In 15-Year Lease At 800-800A Franklin Avenue, Brooklyn Multifamily Property
800a Franklin Avenue, Brooklyn, NY, 11238, USA
Building Size
1,450 SF
Asset Type
MultiFamily
Closing
Dec 13, 2018
AI
A multifamily property located at 800-800A Franklin Avenue in Brooklyn has been leased for a term of 15 years. The property spans 1,450 square feet and was leased for an asking price of $100. The tenant is Franklin Organics and the landlord is Elcorno Martin. Brokers David Dubinsky and Mac Posner of EXR represented both the landlord and the tenant in this transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $100
- Address: 800-800A Franklin Avenue
- Market: Brooklyn
- Square Footage: 1,450
- Term: 15 years
- Tenant: Franklin Organics
- Landlord: Elcorno Martin
- Brokers: David Dubinsky & Mac Posner of EXR
David Dubinsky and Mac Posner of EXR played a crucial role in representing both the landlord and the tenant in this lease transaction for the multifamily property on Franklin Avenue in Brooklyn.
Players
New York 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