Thor Equities Leases Retail Space In Coney Island, Brooklyn To White Castle Corporate
1232 Surf Avenue
$100
$100/SF
Building Size
2,250 SF
Asset Type
Retail
Closing
Sep 1, 2022
AI
A retail property located at 1232 Surf Ave. & 3015 Stillwell Ave. in Coney Island, Brooklyn, has been leased. The property, with a total square footage of 2,250, was leased by White Castle Corporate. The landlord in this transaction is Thor Equities, represented by Joe Sitt and Sam Sabin. The asking rent for the property was $100 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 1232 Surf Ave. & 3015 Stillwell Ave.
- Market: Coney Island, Brooklyn
- Tenant: White Castle Corporate
- Landlord: Thor Equities - Joe Sitt & Sam Sabin
- BROKERS: Aric Trakhtenberg & Harrison Abramowitz - Newmark
- Asking Rent: $100/ft.
- Square Footage: 2,250
The deal was facilitated by brokers Aric Trakhtenberg and Harrison Abramowitz from Newmark.
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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93