Gregory Tannor & Jessica Gerstein Represent The Travel Agency In Downtown Brooklyn Retail Lease
122 Flatbush Avenue
$315
$315/SF
Building Size
4,774 SF
Asset Type
Retail
Closing
Dec 1, 2023
About this deal
AI
Located at 122 Flatbush Avenue in Downtown Brooklyn, the asset involved in the lease transaction is a retail space spanning 4,774 square feet. The deal was facilitated between Times Plaza Management, the landlord, and The Travel Agency, the tenant. The asking rent for this retail lease was $315 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Landlord: Times Plaza Management
- Tenant: The Travel Agency
- Address: 122 Flatbush Avenue
- Market: Downtown Brooklyn
- Landlord's Rep: Evan Schuckman - Ripco
- Tenant's Rep: Gregory Tannor & Jessica Gerstein - Lee & Associates
- Asking Rent: $315/ft
- Lease Type: Retail Lease
Key individuals involved in the transaction include Evan Schuckman from Ripco, representing the landlord, and Gregory Tannor & Jessica Gerstein from Lee & Associates, acting as the tenant's representatives in this retail lease deal.
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
50358.73%
Cash-on-Cash
-14392.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93