Pat Romanello Leases Retail Space To Moka & Co. At 246 Franklin Street In Greenpoint
246 Franklin Street
Building Size
4,500 SF
Asset Type
Retail
Closing
Mar 1, 2025
About this deal
AI
The property involved in the transaction is a retail space located at 246 Franklin Street in the Greenpoint market. The asset has a total square footage of 4,500 and was leased at an asking rent of $60 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $60/ft
- Square Footage: 4,500
- Address: 246 Franklin Street
- Market: Greenpoint
- Landlord: Pat Romanello
- Tenant: Moka & Co.
- Brokers: Dan Shapiro, Dorel Melloul & Albert Halawani - KSR
- Lease Type: Retail Lease
Key individuals involved in this lease transaction include the landlord Pat Romanello and the tenant Moka & Co. The brokerage representation for this deal was provided by Dan Shapiro, Dorel Melloul, and Albert Halawani from KSR.
On the Map
Retail
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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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93