CIM Group Leases 45000 Square Feet To Little Big Hospitality At 50 Columbia Heights Brooklyn
50 Columbia Heights
Building Size
—
Asset Type
Office
Closing
Jun 30, 2025
About this deal
AI
The property involved in this transaction is located at 50 Columbia Heights in Brooklyn, comprising office space. The leased area spans 45,000 square feet. The market for this asset type is Brooklyn.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Long-term lease
- Address: 50 Columbia Heights
- Market: Brooklyn
- Landlord: Richard Ressler - CIM Group
- Tenant: Little Big Hospitality
The deal includes a long-term lease agreement between CIM Group and Little Big Hospitality, which is set to operate The Beginning Clubhouse at the location, offering a family-focused private membership club that features childcare, workspaces, fitness amenities, and dining options.
On the Map
Office
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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