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794 Union St, Brooklyn, NY,...

Spear Physical Therapy Leases 3750 Square Feet At 794 Union St Brooklyn With Tenants Rep Evan Clements
LEASEDOffice

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

Chris Havens

Terra CRG

Broker

2 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