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25 Kent Ave, Brooklyn, NY, ...

Kith Leases 57679 Square Feet At 25 Kent Ave Brooklyn With Benjamin Kroll As Rep
LEASEDRetail

Kith Leases 57679 Square Feet At 25 Kent Ave Brooklyn With Benjamin Kroll As Rep

25 Kent Ave, Brooklyn, NY, 11249

Building Size

57,679 SF

Asset Type

Retail

Closing

Nov 19, 2023

AI

The lease property is located at 25 Kent Ave, Brooklyn, NY, 11249, within the Brooklyn market. The total area of the property is 57,679 square feet; the specific transaction type is a lease. The landlords involved in this transaction are represented by Brett Harvey, Howard Hersch, and Jeffrey Lopez from JLL and Lee & Associates.

Summary of transaction details:

The transaction features Kith as the tenant, with Benjamin (Ben) Kroll representing them through Newmark. The brokerage representation included Gregory (Greg) Tannor and Jaime Schultz from Lee & Associates, assisting in facilitating the lease arrangement.

Players

Brett Harvey

Newmark

Broker

$270M

vol

28 deals

Broker
K
KithTenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93