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1399 Myrtle Avenue

Louis Yeung Leases Office Space To Proper Prints At 1399 Myrtle Avenue Bushwick
LEASEDOffice

Louis Yeung Leases Office Space To Proper Prints At 1399 Myrtle Avenue Bushwick

1399 Myrtle Avenue

$25

$25/SF

Building Size

1,568 SF

Asset Type

Office

Closing

Jan 18, 2024

AI

The office located at 1399 Myrtle Avenue in Bushwick, Brooklyn, was leased to Proper Prints. The landlord, Louis Yeung, facilitated the leased transaction with an asking rent of $25 per square foot for the 1,568 square feet office under a Modified Gross Lease.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 1399 Myrtle Avenue
  • Market: Bushwick, Brooklyn
  • Tenant: Proper Prints
  • Landlord: Louis Yeung
  • Brokers: David Quigua, Joseph DiPiazza & John Le Vine - EXR
  • Asking Rent: $25/ft
  • Lease Type: Modified Gross Lease

David Quigua, Joseph DiPiazza, and John Le Vine from EXR were the brokers representing both the landlord and the tenant in the transaction, ensuring a successful lease agreement for the office space.

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

634520.00%

Cash-on-Cash

-181347.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93