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2555 Ocean Avenue

Brooklyn Bazaar Leases Retail Space At 2555 Ocean Avenue In Sheepshead Bay
LEASEDRetail

Brooklyn Bazaar Leases Retail Space At 2555 Ocean Avenue In Sheepshead Bay

2555 Ocean Avenue

$60

$60/SF

Building Size

8,000 SF

Asset Type

Retail

Closing

Apr 15, 2024

AI

The retail property located at 2555 Ocean Avenue in Sheepshead Bay has been leased in a transaction involving tenant Brooklyn Bazaar and landlord Philips International. The lease type is a Retail Lease, with an asking rent of $60 per square foot for a space spanning 8,000 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Tenant: Brooklyn Bazaar
  • Landlord: Philips International
  • Tenant's Representative: Freddy Souid, Jacky Yedid & Sholom Kanevsky - KSR
  • Landlord's Representative: Eddie Keda - Tri State Commercial
  • Address: 2555 Ocean Avenue
  • Market: Sheepshead Bay
  • Asking Rent: $60/ft
  • SF: 8,000

Freddy Souid, Jacky Yedid, and Sholom Kanevsky of KSR represented Brooklyn Bazaar as the tenant's representatives in this retail lease deal. On the other side, Eddie Keda of Tri State Commercial acted as the landlord's representative in facilitating the transaction.

Players

Sholom Kanevsky

Kassin Sabbagh Realty

Broker

11 deals

Broker

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