Victoria Mutual Building Society Leases Retail Space At 2700 Church Avenue In Brooklyn
2700 Church Avenue
$90
$90/SF
Building Size
1,700 SF
Asset Type
Retail
Closing
Apr 17, 2025
AI
The property asset involved in this transaction is a retail space located at 2700 Church Avenue in Brooklyn. The landlord of the property is Triple C Builders, while the tenant is Victoria Mutual Building Society. The asking rent for this space is $90 per square foot for a total square footage of 1,700. The lease term is structured as a Modified Gross Lease with a duration of 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $90/ft
- Square Footage: 1,700
- Address: 2700 Church Avenue
- Market: Brooklyn
- Landlord: Triple C Builders
- Tenant: Victoria Mutual Building Society
- Broker: Moshe Akiva - Tri State Commercial Realty
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
The key individuals involved in this deal include Moshe Akiva, who represents the broker Tri State Commercial Realty. This transaction showcases the efforts of the brokerage in facilitating the agreement between the landlord and tenant within the specified terms.
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
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93