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Walgreens Signs Lease For Retail Space At 285 Broadway In Williamsburg

Property Image
LEASED
Joseph Lembo
Jason Richter
+ 2

New York

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Retail8,000 SF
Leased 10/01/2020
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Property Image
LEASED

Walgreens Signs Lease For Retail Space At 285 Broadway In Williamsburg

285 Broadway, Southside, Brooklyn, NY, USA

See Similar Deals
Retail8,000 SF
Leased 10/01/2020
Joseph Lembo
Jason Richter
+ 2
Contact now

Summary

NEW YORK
Asset Type:Retail
Total Square Footage:8,000 SF
Transaction Type:Lease

Located at 285 Broadway in Williamsburg, this retail property recently completed a lease transaction. The property spans 8,000 square feet and was leased for an asking rent of $60 per square foot. The deal was finalized on October 1, 2020.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Tenant: Walgreens
  • Landlord: Midwood - John Usdan
  • Landlord's Representative: Ryan Schimel, Jason Richter, Andrew Schulman & Joseph Lembo from Capricorn Retail
  • Note: The lease was completed from start to finish during the Covid-19 pandemic.

The lease transaction involved Walgreens as the tenant and Midwood, represented by John Usdan, as the landlord. Capricorn Retail, consisting of Ryan Schimel, Jason Richter, Andrew Schulman, and Joseph Lembo, served as the landlord's representatives. Despite the challenges posed by the pandemic, the deal was successfully negotiated and finalized.

Players

Ryan Schimel
7 deals$4.5M volume(818) 516-3472
BROKER

Jason Richter
3 deals$4.5M volume
BROKER

Andrew Schulman
5 deals$4.5M volume
BROKER

Joseph Lembo
JLL
2 deals$82.5M volume
BROKER

John Usdan
Midwood Investment & Development
4 deals$61.6M volume
BROKER

John Usdan
Midwood Investment & Development
4 deals$61.6M volume
LANDLORD

John Usdan
4 deals$61.6M volume
LANDLORD

Walgreens
TENANT

Details

LEASED
IMAGE: Ryan Schimel, Jason Richter, John Usdan, Andrew Schulman & Joseph Lembo DATE: 10/01/2020 ADDRESS: 285 Broadway MARKET: Williamsburg ASSET TYPE: Retail ASKING RENT: $60/ft. ~ SF: 8,000 TENANT: @Walgreens LANDLORD: Midwood - John Usdan LANDLORD’S REP: Ryan Schimel, Jason Richter, Andrew Schulman & Joseph Lembo @CapricornRetail NOTE: Lease completed start to finish during Covid!

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Deal Type
Effective Rent (Annual)

$458,555.17

Total Lease Value

$4,585,551.72

Net Landlord Cash Flow$458,555.17