Gold Coast Bank Leases 1,923 Square Feet Retail Space At 176 Myrtle Ave Brooklyn From Red Apple Group
176 Myrtle Ave
Building Size
1,923 SF
Asset Type
Retail
Closing
Jan 1, 2017
About this deal
AI
The asset involved in this lease transaction is a retail property located at 176 Myrtle Ave in Brooklyn. The total square footage of the property is 1923.0. The landlord for this transaction is Red Apple Group, with Gold Coast Bank as the tenant.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 176 Myrtle Ave
- Market: Brooklyn
- Square Feet: 1923.0
- Landlord: Red Apple Group
- Tenant: Gold Coast Bank
- Brokers: Thomas Caliendo (Tide Realty Group), Daniel D. DePasquale
Key individuals in this transaction include Thomas Caliendo from Tide Realty Group representing the negotiating interests in the deal. Additionally, Daniel D. DePasquale is also involved as a broker in this transaction.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93