Glenn Schor's The Treeline Companies Leases Retail Space To Form50 Fitness In Brooklyn Heights
175 Remsen Street
$80
$80/SF
Building Size
2,200 SF
Asset Type
Retail
Closing
Jan 27, 2025
AI
The retail asset located at 175 Remsen Street in the Brooklyn Heights market consists of a leasing space encompassing 2,200 square feet with an asking rent set at $80 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $176,000
- Landlord: Glenn Schor - The Treeline Companies
- Tenant: Form50 Fitness
- Landlord's Representative: Ross Kaplan & William Chaplin - Newmark
- Tenant's Representative: George Skaliarinis & Carolina Aziz - KSR
This transaction involved noteworthy individuals from both the landlord and tenant sides, with Glenn Schor representing the landlord's interests as part of The Treeline Companies, while Form50 Fitness sought to establish their presence in the market through tenant representatives George Skaliarinis and Carolina Aziz from KSR.
Players
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
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93