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2181 Ralph Avenue

Cornbread Soul Leases Retail Space At Georgetowne Shopping Center Represented By KSR In Brooklyn
LEASEDRetail

Cornbread Soul Leases Retail Space At Georgetowne Shopping Center Represented By KSR In Brooklyn

2181 Ralph Avenue

$67

$67/SF

Building Size

4,154 SF

Asset Type

Retail

Closing

Jan 17, 2025

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:

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.

Players

George Skaliarinis

Kassin Sabbagh Realty

Broker

$7M

vol

53 deals

Broker
KA
Katz & AssociatesBrokerage

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