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1620 Pitkin Avenue, Brookly...

Friends Of Ascend Charter Schools Leases Retail Space In Brownsville, Brooklyn
LEASEDRetail

Friends Of Ascend Charter Schools Leases Retail Space In Brownsville, Brooklyn

1620 Pitkin Avenue, Brooklyn, New York 11212, United States

Building Size

50,000 SF

Asset Type

Retail

Closing

Mar 15, 2022

AI

The retail property located at 1620 Pitkin Ave in Brooklyn, NY was recently leased in a transaction that took place on 03/16/2022. The property is situated in the Brownsville market and spans a total area of 50,000 square feet.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Asking Rent: $45/ft

In this lease deal, the landlord, Soly A. Bawabeh, Eddie Mizrachi, and Murray Mizrachi, leased the property to Friends of Ascend Charter Schools INC. The tenant's representatives, William P. O'Brien and Davon Peters from M. C. O'Brien Inc, negotiated on behalf of Friends of Ascend Charter Schools INC. On the other hand, the landlord's representative for this transaction was Josh Augenbaum from Augenbaum Realty Corp.

Players

Josh Augenbaum

Augenbaum Realty

Broker

$652.8M

vol

140 deals

Broker
Eddie Mizrachi

Eddie Mizrachi

Landlord

24 deals

Landlord

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93