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
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