Brooklyn Hospital Center Leases 8,094 Square Feet Retail Space From Red Apple Group
218 Myrtle Ave
Building Size
8,094 SF
Asset Type
Retail
Closing
Dec 31, 2016
About this deal
AI
The property asset involved in the transaction is a retail space located at 218 Myrtle Ave in Brooklyn, with a total square footage of 8,094.0. The lease was completed on December 31, 2016. The landlord for this asset is Red Apple Group, and the tenant that will occupy the space is Brooklyn Hospital Center.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 218 Myrtle Ave
- Market: Brooklyn
- Square Feet: 8,094.0
- Landlord: Red Apple Group
- Tenant: Brooklyn Hospital Center
- Broker 1: Thomas Caliendo - Tide Realty Group
- Broker 2: Daniel D. DePasquale
This transaction was facilitated by brokers Thomas Caliendo from Tide Realty Group and Daniel D. DePasquale, representing the respective parties involved in the lease agreement. Their involvement highlights the collaborative efforts necessary to complete the lease process for the Brooklyn Hospital Center at this location.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93