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119 5th Avenue, Park Slope,...

Harlem Shake Leases Retail Space At 119 5th Avenue In Park Slope, Brooklyn
LEASEDRetail

Harlem Shake Leases Retail Space At 119 5th Avenue In Park Slope, Brooklyn

119 5th Avenue, Park Slope, Brooklyn, NY, USA

Building Size

2,500 SF

Asset Type

Retail

Closing

Jun 28, 2020

AI

Located at 119 5th Avenue in Park Slope, Brooklyn, this retail property was recently leased. The transaction took place on June 28, 2021, with an asking rent of $117 per square foot for a total space of 2,500 square feet.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Leased
  • Address: 119 5th Avenue, Park Slope, Brooklyn
  • Market: Park Slope, Brooklyn

The tenant in this lease transaction is Harlem Shake, a burger joint. The landlord of the property is Lincoln Oak Management. Harlem Shake was represented by David Yablon from Katz & Associates, as well as Sherry Naquin Sanchez and Spencer Bowman from RESOLUT RE.

Players

David Yablon

Katz & Associates Real Estate Advisors

Broker

4 deals

Broker

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