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:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 25 Kent Ave, Brooklyn, NY, 11249
- Market: Brooklyn
- Square Feet: 57,679
- Landlord's Representatives: Brett Harvey (JLL), Howard Hersch (JLL), Jeffrey Lopez (Lee & Associates)
- Borrower's Representative: Benjamin (Ben) Kroll (Newmark)
- Tenant: Kith
- Brokers: Gregory (Greg) Tannor (Lee & Associates), Jaime Schultz (Lee & Associates)
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
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