Chuan Chuan Spa Leases Retail Space At 217 South 3rd Street In Williamsburg Brooklyn For $42/ft
217 South 3rd Street
$42
$42/SF
Building Size
700 SF
Asset Type
Retail
Closing
Sep 10, 2024
AI
The property asset involved in this transaction is a retail space located at 217 South 3rd Street in Williamsburg, Brooklyn. The lease agreement details an asking rent of $42 per square foot for a total square footage of 700 SF.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $42/ft
- Address: 217 South 3rd Street
- Market: Williamsburg, Brooklyn
- Landlord: Shaye Stuhl - SMS Studio Inc.
- Tenant: Chuan Chuan Spa
- Landlord's Representative: James Famularo & Jordan Langer - Meridian Capital Group
- Tenant's Representative: Yu Yong - Eastriver Realty Brokerage
The transaction showcases the involvement of key representatives. James Famularo and Jordan Langer from Meridian Capital Group represented the landlord, while Yu Yong from Eastriver Realty Brokerage acted on behalf of the tenant, Chuan Chuan Spa.
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
377690.48%
Cash-on-Cash
-107945.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93