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1414 Kings Highway, Homecre...

Snipes Leases Retail Space At 1414 Kings Highway In Homecrest, Brooklyn
LEASEDRetail

Snipes Leases Retail Space At 1414 Kings Highway In Homecrest, Brooklyn

1414 Kings Highway, Homecrest, Brooklyn, NY, USA

Building Size

3,500 SF

Asset Type

Retail

Closing

Mar 31, 2021

AI

Located at 1414 Kings Highway in the Homecrest market, this retail property was recently leased. The tenant, Snipes, signed a lease agreement for the space. The asking rent for the 3,500 square feet property was $90 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease

Evan Clements & Joe Mastromonaco from Atlantic Retail represented Snipes as their tenant's representative in the deal. Meanwhile, Denis Abayev from Commercial Acquisitions Inc. served as the landlord's representative. The lease agreement was finalized on 04/01/2021.

Players

Denis Abayev

Commercial Acquisitions

Broker

$33.9M

vol

22 deals

Broker
S
SnipesTenant

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