Ariel Akkad Of HH Equities Leases Retail Space To Craft Pilates In Park Slope For $135/ft
358 7th Avenue
$135
$135/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Jan 7, 2025
AI
The retail lease transaction involves a property located at 358 7th Avenue in the Park Slope market. The asking rent for the space is $135 per square foot, covering an area of 1,000 square feet, indicating a competitive rental rate for the commercial real estate market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $135/ft
- Square Footage: 1,000
- Address: 358 7th Avenue
- Market: Park Slope
- Landlord: Ariel Akkad - HH Equities
- Tenant: Craft Pilates
- Landlord's Representative: Solomon Tbeile & Ike Bibi - KSR
- Tenant's Representative: Keat Chew - Kinetic Real Estate Group
- Lease Type: Retail Lease
Ariel Akkad represents the landlord HH Equities in this transaction, while Craft Pilates is represented by Keat Chew from Kinetic Real Estate Group. The collaborative efforts of the representatives facilitated the agreement to lease the retail space at the specified asking rent.
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
117503.70%
Cash-on-Cash
-33582.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93