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337 Park Avenue

Hupo Szechuan Leases Retail Space At 392 5th Avenue In Park Slope
LEASEDRetail

Hupo Szechuan Leases Retail Space At 392 5th Avenue In Park Slope

337 Park Avenue

$105

$105/SF

Building Size

3,400 SF

Asset Type

Retail

Closing

Feb 15, 2024

AI

The retail property located at 392 5th Avenue in Park Slope has been leased to Hupo Szechuan. The space spans 3,400 square feet with an asking rent of $105 per square foot. The landlords, Ariel Akkad and Arya Zand of Slope Asset Management, secured this retail lease deal.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Ariel Akkad & Arya Zand - Slope Asset Management
  • Tenant: Hupo Szechuan
  • Landlord's Rep: Solomon Tbeile & Ike Bibi - KSR
  • Tenant's Rep: Lip Fei Jiang - Chibeca Real Estate
  • Address: 392 5th Avenue
  • Market: Park Slope

Solomon Tbeile and Ike Bibi from KSR represented the landlords in this retail lease transaction, while Lip Fei Jiang from Chibeca Real Estate acted as the tenant's representative, facilitating the agreement between both parties.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker

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

151076.19%

Cash-on-Cash

-43178.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93