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
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