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233 East 4th Street, Brookl...

Updated Oct 28, 2024

Bill Powers Gallery Leases Retail Space In East Village For $100/ft
LEASEDRetail

Bill Powers Gallery Leases Retail Space In East Village For $100/ft

233 East 4th Street, Brooklyn, NY 11218, USA

Building Size

1,000 SF

Asset Type

Retail

Closing

Sep 1, 2021

About this deal

AI

Bill Powers Gallery, a retail space located at 233 East 4th Street in the East Village, has recently been leased. The property, spanning 1,000 square feet, was leased by the tenant from Steve Croman, the landlord. The lease was facilitated by brokers Ben Biberaj, Elliot Wygoda, and James Famularo from Meridian Retail Leasing. The asking rent for the space was $100 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 233 East 4th Street
  • Market: East Village
  • Tenant: Bill Powers Gallery
  • Landlord: Steve Croman
  • Brokers: Ben Biberaj, Elliot Wygoda, and James Famularo from Meridian Retail Leasing
  • Asking Rent: $100/ft
  • Square Footage: 1,000

The lease deal was successfully brokered by Ben Biberaj, Elliot Wygoda, and James Famularo from Meridian Retail Leasing, representing the tenant in the transaction. The Bill Powers Gallery, known for its artistic offerings, has secured this prime retail space in the heart of the East Village.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

204 deals

Broker
Steve Croman

Steve Croman

Centennial Properties

Landlord

$50.1M

vol

40 deals

Landlord

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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

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