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291 Kent Ave, Brooklyn, NY ...

EXR Brokers Facilitate Sale Of Freestanding Retail Property On Kent Avenue
LEASEDRetail

EXR Brokers Facilitate Sale Of Freestanding Retail Property On Kent Avenue

291 Kent Ave, Brooklyn, NY 11249, USA

Building Size

6,050 SF

Asset Type

Retail

Closing

Jun 30, 2019

AI

Located at 291 Kent Avenue in Brooklyn's Williamsburg neighborhood, this freestanding retail property recently changed hands in a closed transaction. The property spans 6,050 square feet and was listed with an asking price of $40,000, resulting in a price per square foot of $79.40.

Summary of transaction details:

  • Property Type: Freestanding Retail
  • Transaction Amount: $40,000
  • Address: 291 Kent Avenue, Brooklyn, Williamsburg
  • Market: Brooklyn, Williamsburg
  • Landlord: MYT Properties – Yidel & Toby Hirsch
  • Tenant: Blend
  • Brokers: Alan Chabbott, Brad Krosser, Brendan Thrapp – EXR, Chandler Slate – Tri State Commercial

The deal was facilitated by a team of brokers including Alan Chabbott, Brad Krosser, Brendan Thrapp from EXR, and Chandler Slate from Tri State Commercial. Bringing their expertise and knowledge of the market, they successfully represented the landlord, MYT Properties – Yidel & Toby Hirsch, in this transaction. The involvement of Blend as the tenant adds another layer to the deal, highlighting their interest in this prime retail location.

Players

Alan Chabbott

Broker

2 deals

Broker

Yidel Hirsch

Landlord

2 deals

Landlord

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93