IHOP Leases Retail Space In Sheepshead Bay For $43/ft. With Allie Beyda As The Broker
2927-51 Avenue U, Brooklyn, NY, USA
Building Size
5,000 SF
Asset Type
Retail
Closing
Aug 17, 2021
About this deal
AI
The retail property located at 2927-51 Avenue U in Sheepshead Bay has been leased. The transaction took place on 08/18/2021. The asset spans a total of 5,000 square feet, and the asking rent for the space was $43 per square foot.
Summary of transation details
- Property Type: Retail
- Date: 08/18/2021
- Address: 2927-51 Avenue U, Sheepshead Bay
- Market: Sheepshead Bay
- Tenant: IHOP (International House of Pancakes)
- Sub-Landlord: Ideal Marketplace
- Landlord: A&H Acquisitions - Alex Adjmi
- Broker: Allie Beyda - Metropolitan Skyline Realty
Allie Beyda from Metropolitan Skyline Realty represented the tenant, IHOP, in this lease transaction with Ideal Marketplace. The landlord, A&H Acquisitions, was represented by Alex Adjmi. Metropolitan Skyline Realty is currently seeking sites in Brooklyn for IHOP, with a preference for locations that offer parking. For potential site suggestions, interested parties can contact Allie via email at [email protected] or by phone at 718-614-8452.
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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