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248 Avenue X

Fun On Us Leases Retail Space At 248 Avenue X From ICER Properties In Brooklyn
LEASEDRetail

Fun On Us Leases Retail Space At 248 Avenue X From ICER Properties In Brooklyn

248 Avenue X

$50

$50/SF

Building Size

5,400 SF

Asset Type

Retail

Closing

Mar 1, 2025

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.

Players

Moshe Akiva

Momentum Realty Group

Broker

$3.3M

vol

24 deals

Broker
ICER Properties
ICER PropertiesLandlord

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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