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276 Bedford Avenue

SLT Signs Modified Gross Lease At 276 Bedford Avenue Brooklyn With Landlord Phillip Miller
LEASEDRetail

SLT Signs Modified Gross Lease At 276 Bedford Avenue Brooklyn With Landlord Phillip Miller

276 Bedford Avenue

$80

$80/SF

Building Size

2,940 SF

Asset Type

Retail

Closing

Jan 17, 2025

AI

The retail property located at 276 Bedford Avenue in Brooklyn has a total square footage of 2,940. The asking rent for this property was set at $80 per square foot. The lease type established for this transaction is a Modified Gross Lease.

Summary of transaction details:

The transaction involved key representatives from both the landlord’s and tenant’s sides, with Sherry Chera, Chandler Slate, and Avi Akiva representing the landlord through Tri State Commercial Realty. On the tenant's side, the deal was facilitated by Hal Shapiro and Alex Karas from Winick Realty Group.

Players

Chandler Slate

Tri State Commercial Realty

Broker

$10.7M

vol

33 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

198287.50%

Cash-on-Cash

-56671.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93