Morgan & Morgan Signs 5-Year Retail Lease In Downtown Brooklyn
203 Jay Street, Brooklyn, New York 11201, United States
Building Size
9,397 SF
Asset Type
Retail
Closing
Nov 2, 2022
AI
A five-year lease has been signed for a retail space located at 203 Jay Street in Downtown Brooklyn. The property, measuring approximately 9,397 square feet, was leased by tenant Morgan & Morgan. The landlord, AmTrust RE, facilitated the transaction at an asking rent of $50 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 203 Jay Street
- Market: Downtown Brooklyn
Leading the deal on behalf of the tenant was Charles Borrok, Patrick Dugan, Remy Liebersohn, Jon Fales, Michelle Mean, Joseph Cirone, Kevin Hammond, Jeffrey Sweeney, and Carlisle Wheeler from Cushman & Wakefield. They represented Morgan & Morgan in securing the lease agreement with AmTrust RE.
Players
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