1611 East New York Avenue Retail Leased To 1611 Laundromat In Crown Heights, Brooklyn
1611 East New York Avenue
$30
$30/SF
Building Size
3,000 SF
Asset Type
Retail
Closing
Sep 14, 2023
About this deal
AI
The retail property located at 1611 East New York Avenue in Crown Heights, Brooklyn has been leased. The property spans approximately 3,000 square feet and features a modified gross lease. The lease term is set for 15 years.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $30/ft
- Square Footage: 3,000
- Lease Type: Modified Gross Lease
- Lease Term: 15 years
The landlord of this property is Frank Kalabalik, while 1611 Laundromat will be the tenant. The lease transaction was facilitated by brokers Murray Mizrachi and Josh Augenbaum from Augenbaum Realty.
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
528766.67%
Cash-on-Cash
-151123.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93