Jonathan Arnold Of Whitebox Properties Represents Tenant In Retail Lease Deal At 1217 Bedford Avenue, Bedford-Stuyvesant. Landlord Represented By John Le Vine Of EXR. Asking Rent $65/ft
1217 Bedford Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA
Building Size
5,265 SF
Asset Type
Retail
Closing
Sep 3, 2021
About this deal
AI
The retail property located at 1217 Bedford Avenue in Bedford-Stuyvesant, Brooklyn has been leased. The transaction took place on 09/03/2021. The property, spanning 5,265 square feet, was leased for an asking rent of $65 per square foot.
Summary of transaction details:
- Property Type: Retail
- Date: 09/03/2021
- Address: 1217 Bedford Avenue, Bedford-Stuyvesant, Brooklyn
- Asking Rent: $65/ft.
- SF: 5,265
The landlord in this transaction is Rubin Equities, represented by John Le Vine from EXR. The tenant, represented by Jonathan Arnold from Whitebox Properties, successfully negotiated the lease. It is worth noting that this lease is part of the AvonHall.NYC commercial new development led by developer Rubin Equities. The development is located in the heart of Central Brooklyn and offers retail, creative studios, and office space. For more details, visit https://www.avonhall.nyc.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93