Coney Island Prep Leases Retail Space At 1421 Mermaid Avenue New York City For $40 Per Foot
1421 Mermaid Avenue, Brooklyn, New York 11224, United States
Building Size
6 SF
Asset Type
Retail
Closing
Jan 3, 2023
About this deal
AI
The property involved in the transaction is a retail asset located at 1421 Mermaid Avenue in New York City. The asking rent for the space is set at $40 per square foot, encompassing a total area of 6,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $40/ft
- Address: 1421 Mermaid Avenue
- Market: New York City
- Landlord: Zoriano Realty
- Tenant: Coney Island Prep
- Broker: Meyer Dagmy (Mod_CRE) - MOD
Meyer Dagmy, representing the brokerage firm Mod_CRE, is also working with additional daycare operators seeking space in the market. The broker has encouraged owners and brokers to reach out with any relevant available space opportunities via the email provided.
On the Map
Retail
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Players
Market 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