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1973 Utica Avenue, Brooklyn...

Family Dollar Stores Leases Retail Space On Utica Avenue In Brooklyn With Brokers Richard Senior & Chris Walther @RIPCORealEstate
LEASEDRetail

Family Dollar Stores Leases Retail Space On Utica Avenue In Brooklyn With Brokers Richard Senior & Chris Walther @RIPCORealEstate

1973 Utica Avenue, Brooklyn, NY, 11234, USA

Building Size

10,000 SF

Asset Type

Retail

Closing

Jul 16, 2020

AI

Located at 1973-1979 Utica Avenue in Brooklyn, this retail property was recently leased. The property spans approximately 10,000 square feet and is owned by American Properties, specifically David Podolsky and Michael Podolsky. The tenant in this transaction is Family Dollar Stores, a well-known retail chain. The deal was facilitated by Richard Senior and Chris Walther from RIPCO Real Estate.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Date: 07/16/2021
  • Market: Brooklyn
  • Tenant: Family Dollar Stores
  • Landlord: American Properties - David Podolsky & Michael Podolsky
  • Brokers: Richard Senior & Chris Walther @RIPCORealEstate
  • Asking Rent: $30/ft.

This lease transaction not only highlights the property and the tenant involved but also the key individuals and companies that played a role in the deal. American Properties, specifically David Podolsky and Michael Podolsky, acted as the landlords in this transaction, while Richard Senior and Chris Walther from RIPCO Real Estate represented the tenant, Family Dollar Stores. This lease transaction further reflects the ongoing activity and growth in the Brooklyn market.

Players

Richard Senior

Ripco

Broker

$11.9M

vol

12 deals

Broker

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