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800a Franklin Avenue, Brook...

EXR Represents Both Landlord And Tenant In 15-Year Lease At 800-800A Franklin Avenue, Brooklyn Multifamily Property
LEASEDMultiFamily

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

David Dubinsky

EXR

Broker

9 deals

Broker
Franklin Templeton
Franklin TempletonTenant

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