Milk & Honey Cafe Signs Lease At 1515 Surf Avenue Brooklyn Represented By Moshe Akiva & Joy Vitale
1515 Surf Avenue
$55
$55/SF
Building Size
3,500 SF
Asset Type
Retail
Closing
Nov 1, 2024
About this deal
AI
The property asset involved in this transaction is located at 1515 Surf Avenue in Brooklyn, featuring a retail space with a total square footage of 3,500. The asking rent for this location is set at $55 per square foot, under a Modified Gross Lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $55/ft
- Address: 1515 Surf Avenue
- Market: Brooklyn
- Landlord: LCOR
- Tenant: Milk & Honey Cafe
- Brokers: Moshe Akiva & Joy Vitale - Tri State Commercial Realty
The deal involves key individuals Moshe Akiva and Joy Vitale representing Tri State Commercial Realty, who facilitated the agreement between the landlord, LCOR, and the tenant, Milk & Honey Cafe. Their role was crucial in executing the lease arrangement for the retail property.
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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93