Williamsburg Market Signs Lease For Retail Space At 103 N. 3rd Street In Williamsburg
103 North 3rd Street, Brooklyn, New York 11249, United States
Building Size
9,390 SF
Asset Type
Retail
Closing
Mar 9, 2022
About this deal
AI
A retail property located at 103 N. 3rd Street in Williamsburg has been leased. The property spans approximately 9,390 square feet and was leased to Williamsburg Market. The deal was facilitated by Cameron Schur of Moonrise Hospitality Group, representing the tenant. The landlord, LENY, was represented by Brendan Reichenbacher and Garry Steinberg of Lee & Associates.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not available
- Date: 03/10/2022
- Market: Williamsburg
- Tenant: Williamsburg Market
- Tenant's Rep: Matthew Fogel – Kassin Sabbagh Realty
- Landlord: LENY
- Landlord's Rep: Brendan Reichenbacher & Garry Steinberg - Lee & Associates
- Asking Rent: $150/ft.
A new food hall is set to open in the property in Summer 2022, as mentioned in a note from the broker.
On the Map
Retail
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Players
New York Retail Market Snapshot
Boundary boundary · Retail · 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