Michael Lonuzzi Leases Retail Space To Jeema At 2875 West 8th Street In Brooklyn
2875 West 8th Street
$60
$60/SF
Building Size
800 SF
Asset Type
Retail
Closing
May 13, 2025
AI
This retail asset is located at 2875 West 8th Street in the Brooklyn market. The property spans 800 square feet with an asking rent of $60 per square foot. The lease type is a Modified Gross Lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $60/ft
- Address: 2875 West 8th Street
- Market: Brooklyn
- Landlord: Michael Lonuzzi
- Tenant: Jeema
- Brokers: Noam Aziz & Daniel Rachline - Meridian Capital Group
- Lease Type: Modified Gross Lease
- Square Footage: 800
Noam Aziz and Daniel Rachline from Meridian Capital Group represented the landlord, Michael Lonuzzi, in this leasing transaction with the tenant Jeema. The deal is part of the retail leasing market activities in Brooklyn.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93