Fun On Us Leases Retail Space At 248 Avenue X From ICER Properties In Brooklyn
248 Avenue X
Building Size
5,400 SF
Asset Type
Retail
Closing
Mar 1, 2025
About this deal
AI
The property asset involved in the transaction is a retail space situated at 248 Avenue X in Brooklyn. This location offers a total square footage of 5,400 and is leased at a rate of $50 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 248 Avenue X
- Market: Brooklyn
- Tenant: Fun on Us
- Landlord: ICER Properties
- Rent/SF: $50
- Square Feet: 5,400
The deal involved key representatives from both sides, with the tenant Fun on Us engaging in a lease agreement with the landlord ICER Properties. This transaction highlights the collaboration between the two entities in securing the retail space.
On the Map
Retail
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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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93