Avery Management Leases Office Space At 25 Flatbush Avenue To Pangram Labs For $38/ft
25 Flatbush Avenue
$38
$38/SF
Building Size
6,000 SF
Asset Type
Office
Closing
Apr 19, 2026
AI
The property located at 25 Flatbush Avenue in Brooklyn is classified as an office asset. The lease encompasses a total of 6,000 square feet with an asking rent of $38 per square foot. The lease term is set for 3 years and operates under a modified gross lease structure.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $228,000
- Landlord: Avery Management
- Tenant: Pangram Labs
- Landlord's Representative: David Ratner - Douglas Elliman
- Tenant's Representatives: Jess Prichard & Steven Evans - Platinum Commercial
- Lease Term: 3 years
- Lease Type: Modified Gross Lease
The transaction involves key figures such as David Ratner representing Avery Management, while Jess Prichard and Steven Evans represent Pangram Labs. Their respective agencies, Douglas Elliman and Platinum Commercial, facilitated the lease agreement between the landlord and tenant.
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
417447.37%
Cash-on-Cash
-119307.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93