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378 6th Avenue, Brooklyn, N...

Greenwich Gourmet Market Leases Retail Condo At 378 Sixth Ave From Friedland Properties
LEASEDRetail

Greenwich Gourmet Market Leases Retail Condo At 378 Sixth Ave From Friedland Properties

378 6th Avenue, Brooklyn, NY, USA

Building Size

7,800 SF

Asset Type

Retail

Closing

Apr 15, 2019

AI

The retail condo located at 378 Sixth Ave has recently been leased. The property consists of a total of 7,800 square feet, with 3,900 square feet on the ground floor and an additional 3,900 square feet in the basement. The lease transaction took place on April 16, 2019.

Summary of transaction details

  • Property Type: Retail Condo
  • Tenant: Greenwich Gourmet Market
  • Landlord: Friedland Properties
  • Brokers: Brett Weinblatt - Compass Commercial, Mark Kapnick & Mike Watson - Lee and Associates
  • Price per square foot: $200
  • Address: 378 Sixth Ave

The lease deal was facilitated by the brokers involved: Brett Weinblatt representing Compass Commercial, and Mark Kapnick and Mike Watson representing Lee and Associates. This transaction showcases the collaboration of these individuals and companies in successfully securing Greenwich Gourmet Market as the tenant for the retail condo.

Players

Brett Weinblatt

Compass

Broker

$11.8M

vol

15 deals

Broker
FP
Friedland PropertiesLandlord
GM
Greenwich Gourmet MarketTenant

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