Joseph Moinian Leases Retail Space To Smart Academy At 2840 Atlantic Avenue For $45/ft
2840 Atlantic Avenue
$45
$45/SF
Building Size
14,000 SF
Asset Type
Retail
Closing
Dec 20, 2024
AI
The property asset involved in this transaction is a retail space located at 2840 Atlantic Avenue in the East New York market. The asset comprises 14,000 square feet with an asking rent of $45 per foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $630,000
- Landlord: Joseph Moinian
- Tenant: Smart Academy
- Brokers: Eli Yadid, Rafael Benor & Nathan Ades - KSR
- Lease Type: Retail Lease
The individuals key to this lease transaction include landlord Joseph Moinian and tenant Smart Academy. The brokers facilitating the deal are Eli Yadid, Rafael Benor, and Nathan Ades from the agency KSR.
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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93