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244 Butler Street

Goodbuy Gear Leases Retail Space At 244 Butler St. In Gowanus, Brooklyn
LEASEDRetail

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

Bradley Cohen

CBRE

Broker

$134.5M

vol

11 deals

Broker
Jerry Atkins

Jerry Atkins

Landlord

$28.6M

vol

8 deals

Landlord

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