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1515 Surf Avenue

Milk & Honey Cafe Signs Lease At 1515 Surf Avenue Brooklyn Represented By Moshe Akiva & Joy Vitale
LEASEDRetail

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

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:

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

Moshe Akiva

Momentum Realty Group

Broker

$3.3M

vol

24 deals

Broker

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