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220 North 8th Street

Petitto Family Leases Retail Space At 220 North 8th Street To Go Doggy In Williamsburg
LEASEDRetail

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:

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.

Players

Michael Elkharrat

Tri State Commercial Realty

Broker

7 deals

Broker

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