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:
- Property Type: Retail
- Transaction Amount: $80/ft
- Address: 276 Bedford Avenue
- Market: Brooklyn
- Landlord: Phillip Miller
- Tenant: SLT
- Landlord's Representative: Sherry Chera, Chandler Slate & Avi Akiva - Tri State Commercial Realty
- Tenant's Representative: Hal Shapiro & Alex Karas - Winick Realty Group
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
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