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12 Berry Street

DOG PPL Leases 18000 SF Retail Space At 12 Berry Street Brooklyn From Landlord Steven Title
LEASEDRetail

DOG PPL Leases 18000 SF Retail Space At 12 Berry Street Brooklyn From Landlord Steven Title

12 Berry Street

$38

$38/SF

Building Size

18,000 SF

Asset Type

Retail

Closing

Jul 31, 2024

AI

The property asset involved in this transaction is located at 12 Berry Street in Brooklyn, classified as a retail space. The asking rent is set at $50 per square foot for a total area of 18,000 square feet. The lease type for this transaction is a Modified Gross Lease.

Summary of transaction details:

This transaction highlights the involvement of key representatives in the deal, including Richard Babeck and Avi Akiva from Tri State Commercial Realty representing the landlord, and Blake Olson from Avison Young representing the tenant, DOG PPL.

Players

Blake Olson

Avison Young

Broker

$5.9M

vol

3 deals

Broker

Brooklyn 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

417447.37%

Cash-on-Cash

-119307.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93