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2840 Atlantic Avenue

Joseph Moinian Leases Retail Space To Smart Academy At 2840 Atlantic Avenue For $45/ft
LEASEDRetail

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:

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

Eli Yadid

Kassin Sabbagh Realty

Broker

$16M

vol

38 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

352511.11%

Cash-on-Cash

-100748.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93