Nicholas Estates Leases Retail Space To Cafe By The Girls At 203 7th Avenue
203 7th Avenue
$162
$162/SF
Building Size
1,050 SF
Asset Type
Retail
Closing
Oct 11, 2024
About this deal
AI
The property asset involved in this transaction is a retail space located at 203 7th Avenue in the Park Slope market. The asking rent for this 1,050 square foot property is $162 per square foot. The lease type is specified as a retail lease, indicating the property's intended use in the commercial market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $162/ft
- Lease Size: 1,050 SF
- Landlord: Nicholas Estates
- Tenant: Cafe By The Girls
- Brokers: Ori Melloul & Dorel Melloul - KSR
- Date of transaction: 10/11/2024
The deal involves Nicholas Estates as the landlord and Cafe By The Girls as the tenant, with Ori Melloul and Dorel Melloul from KSR representing the landlords in this retail lease transaction. The transaction highlights the active leasing market in the Park Slope area, with the property being well-suited for commercial enterprise.
On the Map
$162
$162/SF
Retail
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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
97919.75%
Cash-on-Cash
-27985.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93