Newkirk Plaza Multi-Service Leases Retail Space In Brooklyn's 30-31 Newkirk Plaza From Lineage Properties
30 Newkirk Plz & 31 Newkirk Plz
$60
$60/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Oct 3, 2023
About this deal
AI
The retail property located at 30-31 Newkirk Plaza in Brooklyn has been leased. The property, spanning approximately 1,100 square feet, was leased by Newkirk Plaza Multi-Service. The lease term is set for 10 years under a Modified Gross Lease agreement.
Summary of transaction details:
- Property Type: Retail
- Address: 30-31 Newkirk Plaza, Brooklyn
- Market: Brooklyn
- Landlord: Lineage Properties
- Tenant: Newkirk Plaza Multi-Service
- Brokers: Josh Augenbaum & Murray Mizrachi - Augenbaum Realty
- Asking Rent: $60/ft
- Lease Term: 10 years
The deal was facilitated by Josh Augenbaum & Murray Mizrachi from Augenbaum Realty. They represented the tenant, Newkirk Plaza Multi-Service, in the lease agreement with Lineage Properties.
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