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1194 Fulton Street, Brookly...

Gorillas Signs 10-Year Lease For Retail Space On Fulton Street
LEASEDRetail

Gorillas Signs 10-Year Lease For Retail Space On Fulton Street

1194 Fulton Street, Brooklyn, NY, USA

Building Size

3,600 SF

Asset Type

Retail

Closing

Nov 23, 2021

AI

The retail property located at 1194-1196 Fulton Street in Bedford-Stuyvesant has been leased. The lease was finalized on November 23, 2021, with a term of 10 years. The property spans 3,600 square feet and the asking rent was $60 per square foot.

Summary of transation details

  • Property Type: Retail
  • Transaction Date: 11/23/2021
  • Address: 1194-1196 Fulton Street
  • Market: Bedford-Stuyvesant
  • Asking Rent: $60/ft.
  • Square Footage: 3,600
  • Lease Term: 10 Years

The landlord for this retail property is Soly A. Bawabeh & Eddie Mizrachi, represented by Josh Augenbaum of Augenbaum Realty Corp. The tenant is Gorillas, who was represented by Alex Beard of Ripco Real Estate.

Players

Josh Augenbaum

Augenbaum Realty

Broker

$652.8M

vol

140 deals

Broker
Eddie Mizrachi

Eddie Mizrachi

Landlord

24 deals

Landlord

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