Petitto Family Leases Retail Space At 220 North 8th Street To Go Doggy In Williamsburg
220 North 8th Street
$71
$71/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
May 29, 2024
AI
The property asset involved in this transaction is a retail space located at 220 North 8th Street in Williamsburg, Brooklyn. The asset has a lease type of NN Lease and encompasses a total square footage of 2,500. The asking rent for this space is set at $71 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $71/ft
- Square Footage: 2,500
- Address: 220 North 8th Street
- Market: Williamsburg, Brooklyn
- Landlord: Petitto Family
- Tenant: Go Doggy
- Broker: Michael Elkharrat - Tri State Commercial Realty
This lease deal involves key individuals from both the landlord and tenant sides. The landlord, Petitto Family, has engaged in this transaction with the tenant, Go Doggy. Michael Elkharrat from Tri State Commercial Realty represented the interests of the broker in this lease agreement.
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
223422.54%
Cash-on-Cash
-63854.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93