Fred Astaire Dance Studio Leases Retail Space At 128 Montague Street In Brooklyn
128 Montague Street
$108
$108/SF
Building Size
1,328 SF
Asset Type
Retail
Closing
Jan 11, 2023
AI
The Fred Astaire Dance Studio has signed a lease for a retail space located at 128 Montague Street in Brooklyn. The property spans approximately 1,328 square feet and the leasing term is set for 20 years. The asking rent for the space is $108 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 12/23/2023
- Address: 128 Montague Street
- Market: Brooklyn
- Tenant: Fred Astaire Dance Studio
- Landlord's Rep: Jack Mishaan - BH Realty Group
- Tenant's Rep: Claude Kolb - KSR
- Asking Rent: $108/ft
- Size: 1,328 square feet
- Lease Term: 20 years
The deal was facilitated by Jack Mishaan of BH Realty Group, representing the landlord, and Claude Kolb of KSR, representing the tenant. The Fred Astaire Dance Studio will bring its renowned dance program to the vibrant neighborhood of Montague Street in Brooklyn.
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
146879.63%
Cash-on-Cash
-41978.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93