LEASEDRetail
Lambda Lounge BK Leases Retail Space At 1031 Grand St. In East Williamsburg
1031 Grand Street, Brooklyn, NY 11211
Building Size
5,300 SF
Asset Type
Retail
Closing
Sep 1, 2021
AI
The retail property located at 1031 Grand St. in East Williamsburg has recently been leased. The asset spans approximately 5,300 square feet and was leased to Lambda Lounge BK.
Summary of transaction details:
- Property Type: Retail
- Asking Rent: $33/ft.
- Date: 09/01/2021
- Tenant: Lambda Lounge BK
- Landlord: Grand Morgan Realty - Jacob Mayer
- Tenant's Representative: Jamie Addeo - https://www.theaddeogroup.com/about/
- Landlord's Representatives: Joseph DiPiazza - http://linkedin.com/in/jdipiazza, David Quigua, Nate Mallon - EXR
The lease transaction was facilitated by Jamie Addeo, representing the tenant, and Joseph DiPiazza, David Quigua, and Nate Mallon, representing the landlord.
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