Goodbuy Gear Leases Retail Space At 244 Butler St. In Gowanus, Brooklyn
244 Butler Street
$50
$50/SF
Building Size
6,500 SF
Asset Type
Retail
Closing
Sep 15, 2022
AI
The retail property at 244 Butler St. in Gowanus, Brooklyn has been leased. The property, which spans 6,500 square feet, was listed with an asking rent of $50 per square foot. The tenant, Goodbuy Gear, will utilize the adjacent space for their retail presence and the parking garage for their fleet of vans. This location will be their sixth in the country. The lease was facilitated by Brad Cohen and Allie Portera of CBRE, who represented the tenant, and Jon Kamali and Jeremy Kamali of J3K Real Estate, who represented the landlord, Jerry Atkins.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 244 Butler St.
- Market: Gowanus, Brooklyn
- Tenant: Goodbuy Gear
- Tenant's Rep: Brad Cohen & Allie Portera - CBRE
- Landlord: Jerry Atkins
- Landlord's Rep: Jon Kamali & Jeremy Kamali - J3K Real Estate
- Asking Rent: $50/ft.
- SF: 6,500
J3K Real Estate, the landlord's representative, is actively seeking spaces for credit-worthy tenants and marketing additional sites for lease in NYC and the outer boroughs. For more information, visit their website at www.J3K.com. They are currently seeking Outer Borough Leasing/Sales Specialists and interested candidates can email their resume to [email protected].
Players
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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93