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
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