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.
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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