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228 7th Avenue, Brooklyn, N...

Brewer's Row Leases Retail Space In Park Slope At 228 7th Ave
LEASEDRetail

Brewer's Row Leases Retail Space In Park Slope At 228 7th Ave

228 7th Avenue, Brooklyn, New York 11215, United States

Building Size

1,400 SF

Asset Type

Retail

Closing

Jan 31, 2022

AI

Located in Park Slope, Brooklyn, the retail property at 228 7th Ave. has recently been leased. The deal was facilitated by Ralph Safdie of Safdie Realty Group, who acted as the broker for the landlord, Chris Lee. The tenant, Brewer's Row, will occupy the 1,400 square feet space. The lease was secured at an asking rent of $75 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 228 7th Ave.
  • Market: Park Slope
  • Broker: Ralph Safdie - Safdie Realty Group

Ralph Safdie, from Safdie Realty Group, served as the representative for both the landlord, Chris Lee, and the tenant, Brewer's Row, in this lease transaction. The property's prime location in Park Slope makes it an attractive space for retailers looking to establish a presence in the area.

Players

Ralph Safdie

Safdie Realty Group

Broker

2 deals

Broker

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93