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1308 Myrtle Avenue

Cityscape Event Spaces Leases Office Space On Myrtle Avenue In Bushwick
LEASEDOffice

Cityscape Event Spaces Leases Office Space On Myrtle Avenue In Bushwick

1308 Myrtle Avenue

$55

$55/SF

Building Size

1,432 SF

Asset Type

Office

Closing

Dec 12, 2023

AI

The property at 1308 Myrtle Avenue in Bushwick, Brooklyn, underwent a lease transaction involving an office space measuring 1,432 square feet. Urban View Real Estate represented the landlord, while Cityscape Event Spaces was the tenant. The lease was of a Modified Gross Lease type with an asking rent of $55 per square foot.

Summary of transation details:

The deal involved key individuals such as John Le Vine and Joseph DiPiazza from EXR representing the landlord Urban View Real Estate. On the other side, Eddie Keda and Maurice Amar from Tri State Commercial Realty acted as the tenant's representatives for Cityscape Event Spaces. The successful lease transaction demonstrated the collaboration between these skilled real estate professionals in facilitating the agreement for the office space at 1308 Myrtle Avenue.

Players

Joseph DiPiazza

EXR

Broker

$50.6M

vol

36 deals

Broker

Brooklyn Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

288418.18%

Cash-on-Cash

-82430.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93