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340 Jay Street, Brooklyn, N...

Updated Oct 29, 2024

Eyecrafters Leases Retail Space At 340 Jay Street In Downtown BK With Landlord Muss Development Company - Ross Spitalnick
LEASEDRetail

Eyecrafters Leases Retail Space At 340 Jay Street In Downtown BK With Landlord Muss Development Company - Ross Spitalnick

340 Jay Street, Brooklyn, NY 11201

Building Size

1,566 SF

Asset Type

Retail

Closing

Mar 21, 2019

About this deal

AI

The retail lease at 340 Jay Street in Downtown BK was recently closed. The property, leased by Eyecrafters, spans 1,566 square feet. The lease term is set for 10 years. The price per square foot is $185, resulting in a transaction value of . The landlord of the property is Muss Development Company, represented by Ross Spitalnick. Michelle Abramov & Mark Kandhorov from Asset Commercial Realty Group acted as the tenant's broker in the deal.

Summary of transaction details

  • Property Type: Retail Lease
  • Transaction Amount:
  • Date: 03/22/2019
  • Address: 340 Jay Street
  • Market: Downtown BK
  • Tenant: Eyecrafters
  • Landlord: Muss Development Company - Ross Spitalnick
  • Tenant's Broker: Michelle Abramov & Mark Kandhorov - Asset Commercial Realty Group
  • Square Footage: 1,566
  • Price per Square Foot: $185
  • Term: 10 years

The deal at 340 Jay Street was facilitated by Michelle Abramov & Mark Kandhorov from Asset Commercial Realty Group, who served as the tenant's broker. Muss Development Company, represented by Ross Spitalnick, acted as the landlord in the transaction. This lease agreement showcases the ongoing activity and demand in the Downtown BK market for retail spaces.

Players

Michelle Abramov

Ripco

Broker

$64.9M

vol

27 deals

Broker

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

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