Olgam Life Leases Retail Space At 1539 Pitkin Ave. In Brownsville From Muhammed Sultan
1539 Pitkin Avenue
$35
$35/SF
Building Size
8,500 SF
Asset Type
Retail
Closing
Aug 5, 2022
About this deal
AI
The retail property located at 1539 Pitkin Ave in Brownsville has been leased. The asset encompasses approximately 8,500 square feet. The landlord, Muhammed Sultan, has agreed to lease the property to the tenant, Olgam Life. The lease transaction was facilitated by Josh Augenbaum from Augenbaum Realty Corp, who served as the tenant's representative, and Michelle Abramov from Ripco Real Estate, who represented the landlord.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1539 Pitkin Ave, Brownsville
- Market: Brownsville
Josh Augenbaum from Augenbaum Realty Corp represented Olgam Life as their representative in the lease deal. Michelle Abramov from Ripco Real Estate acted as the landlord's representative. The lease was agreed upon at an asking rent of $35 per square foot for the 8,500 square feet of space.
Players
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Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93