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145 Broadway

Garrett’s Convenience Inc. Leases Retail Space On 145 Broadway In South Williamsburg
LEASEDRetail

Garrett’s Convenience Inc. Leases Retail Space On 145 Broadway In South Williamsburg

145 Broadway

$75

$75/SF

Building Size

1,600 SF

Asset Type

Retail

Closing

Aug 17, 2022

AI

Garrett’s Convenience Inc. has leased a retail space located at 145 Broadway in the South Williamsburg market. The property spans an area of approximately 1,600 square feet. The deal was facilitated by the brokers Garrett Kelly and Isaac Levy from Meridian Retail Leasing. The lease was signed on 08/17/2022, with an asking rent of $75 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Tenant: Garrett’s Convenience Inc.
  • Address: 145 Broadway
  • Market: South Williamsburg
  • Brokers: Garrett Kelly & Isaac Levy - Meridian Retail Leasing
  • Asking Rent: $75 per square foot
  • Square Footage: 1,600

Garrett’s Convenience Inc. secured the lease agreement through the representation of Garrett Kelly and Isaac Levy from Meridian Retail Leasing. The deal was successfully finalized on 08/17/2022. This transaction exemplifies the continued demand for retail space in the South Williamsburg market.

Players

Garrett Kelly

Meridian Capital Group

Broker

60 deals

Broker

Newark 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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93