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
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