Spear Physical Therapy Leases 3750 Square Feet At 794 Union St Brooklyn With Tenants Rep Evan Clements
794 Union St, Brooklyn, NY, 11215
Building Size
3,750 SF
Asset Type
Office
Closing
Feb 28, 2020
AI
A lease transaction has taken place at 794 Union St, Brooklyn, NY, 11215, in the Brooklyn market. Spear Physical Therapy has signed a 10-year lease for a space measuring 3,750 square feet, at a near asking rent of $36 per square foot. The space will be delivered as-is.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: $36 psf
- Address: 794 Union St, Brooklyn, NY, 11215
- Square Feet: 3,750
- Tenant: Spear Physical Therapy
- Landlord: Unknown
- Tenant's Representative: Evan Clements - Atlantic Retail
- Landlord's Representatives: Caroline Pardo, Chris Havens - Terra CRG
The representatives for the tenant, Evan Clements from Atlantic Retail, facilitated the leasing deal while the landlord was represented by Caroline Pardo and Chris Havens of Terra CRG. This collaboration highlights the involvement of key brokerage firms in the process.
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