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2520 Church Avenue

Kwenda Collegiate Girls Charter School Signs 10-Year Lease At 2520 Church Avenue Brooklyn
LEASEDOffice

Kwenda Collegiate Girls Charter School Signs 10-Year Lease At 2520 Church Avenue Brooklyn

2520 Church Avenue

Building Size

44,114 SF

Asset Type

Office

Closing

Jan 7, 2025

AI

The property asset involved in this transaction is a 44,114 square feet office space located at 2520 Church Avenue in Flatbush, Brooklyn. The landlord of the property is Holy Cross Roman Catholic Church, which will lease the space to the tenant, Kwenda Collegiate Girls Charter School, for a specified period.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 2520 Church Avenue
  • Market: Flatbush, Brooklyn
  • Lease Term: 10-year lease
  • Landlord: Holy Cross Roman Catholic Church
  • Tenant: Christina Yi-Perry - Kwenda Collegiate Girls Charter School
  • Landlord's Representative: William O’Brien - M.C. O’Brien
  • Tenant's Representatives: Jake Cinti, Kate Whitman & Lindsay Ornstein - OPEN Impact Real Estate

The deal involves distinct representatives for both the landlord and tenant, ensuring that the transaction is facilitated by experienced professionals in the real estate sector. Christina Yi-Perry, representing the charter school, has secured the lease to establish the school's first campus in this location, marking a significant step for the educational institution.

Players

Lindsay Ornstein

OPEN Impact Real Estate

Broker

$54.6M

vol

11 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93