Eprine Community Services Signs 7-Year Lease For Office Space At 41 Flatbush Avenue Downtown Brooklyn
41 Flatbush Avenue
$50
$50/SF
Building Size
4,600 SF
Asset Type
Office
Closing
Nov 23, 2023
AI
The office property located at 41 Flatbush Avenue in Downtown Brooklyn has been leased to Eprine Community Services. The lease term is for 7 years with a modified gross lease. The asking rent for the 4,600 square foot space is $50 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Address: 41 Flatbush Avenue, Downtown Brooklyn
- Market: Downtown Brooklyn
- Landlord: Quinlan Development Group
- Tenant: Eprine Community Services
- Landlord's Representative: Remy Liebersohn & Pierce Hance - Cushman & Wakefield
- Tenant's Representative: Josh Augenbaum & Murray Mizrachi - Augenbaum Realty
- Asking Rent: $50/ft
- Lease Type: Modified Gross Lease
- Lease Term: 7 years
Remy Liebersohn and Pierce Hance from Cushman & Wakefield represented the landlord, Quinlan Development Group, in the lease transaction. On the other hand, Josh Augenbaum and Murray Mizrachi from Augenbaum Realty served as the tenant's representatives for Eprine Community Services.
Players
New York 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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93