King Heartbeat Studio Leases Retail Space In Brooklyn For $40/ft
2256 Nostrand Avenue
$40
$40/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Jun 20, 2024
AI
The retail property located at 2256 Nostrand Avenue in Brooklyn has been leased in a deal involving the Mayer Family as the landlord and King Heartbeat Studio as the tenant. The lease was facilitated by Jacob Stavsky of Stav Equities LLC, and Nathan Horne & Ehab Elshinawy of Compass. The lease agreement was for a Modified Gross Lease with an asking rent of $40 per square foot for a total area of 2,000 square feet.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 2256 Nostrand Avenue
- Market: Brooklyn
- Landlord: Mayer Family
- Tenant: King Heartbeat Studio
- Brokers: Jacob Stavsky - Stav Equities LLC; Nathan Horne & Ehab Elshinawy - Compass
- Asking Rent: $40 per square foot
- Lease Type: Modified Gross Lease
The lease transaction at 2256 Nostrand Avenue further highlights the role of the Mayer Family as the property owners and King Heartbeat Studio as the new tenant. Additionally, Jacob Stavsky from Stav Equities LLC and Nathan Horne along with Ehab Elshinawy from Compass played fundamental roles as the brokers in facilitating the lease agreement.
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
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93