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
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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