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1190 Fulton Street, Brookly...

Shake Shack Leases Retail Space In Bed-Stuy, Brooklyn
LEASEDRetail

Shake Shack Leases Retail Space In Bed-Stuy, Brooklyn

1190 Fulton Street, Brooklyn, New York 11216, United States

Building Size

2,800 SF

Asset Type

Retail

Closing

Dec 14, 2021

AI

This retail property located at 1190 Fulton Street in Bedford-Stuyvesant has recently been leased. The transaction took place on December 14, 2021. The asset consists of a 3,000 square foot space. The landlord for this property is Soly A. Bawabeh and Eddie Mizrachi. The tenant who has leased the space is Shake Shack.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 12/14/2021
  • Address: 1190 Fulton Street
  • Market: Bedford-Stuyvesant

In this deal, the leasing was facilitated by Josh Augenbaum from Augenbaum Realty Corp. and Roberto G. Rhett from GoodSpace NYC. The asking rent for this space was $80 per square foot, resulting in a total rent of approximately $240,000. It is worth mentioning that an additional 2,800 square feet of inline space is available for lease in the same luxury rental building, adjacent to Shake Shack.

Contact Josh Augenbaum at [email protected] for more information regarding the available leasing opportunity.

Players

Benjamin Weiner

Ripco

Broker

10 deals

Broker
Eddie Mizrachi

Eddie Mizrachi

Landlord

24 deals

Landlord
SS
Shake ShackTenant

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