Cornbread Soul Leases Retail Space At Georgetowne Shopping Center Represented By KSR In Brooklyn
2181 Ralph Avenue
Building Size
4,154 SF
Asset Type
Retail
Closing
Jan 17, 2025
About this deal
AI
The asset involved in the transaction is a retail property located at 2181 Ralph Avenue in the Georgetowne Shopping Center. The property consists of a total of 4,154 square feet and was leased at an asking rent of $67 per square foot in the Brooklyn market.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $67/ft
- Square Footage: 4,154
- Address: Georgetowne Shopping Center - 2181 Ralph Avenue
- Market: Brooklyn
- Landlord: Federal Realty
- Tenant: Cornbread Soul
- Landlord's Representative: Scott Sher, Daniel DePasquale, Michael Peguero & Sean Philipps - Katz & Associates
- Tenant's Representative: George Skaliarinis & Jacky Yedid - KSR
- Lease Type: Retail Lease
The deal was facilitated by representatives from both sides with Scott Sher, Daniel DePasquale, Michael Peguero & Sean Philipps representing the landlord Federal Realty through Katz & Associates. On the tenant side, George Skaliarinis & Jacky Yedid served as representatives for Cornbread Soul through KSR.
On the Map
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
236761.19%
Cash-on-Cash
-67667.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93