Five Below Signs Lease For Retail Space At 399 Knickerbocker Avenue, Bushwick, Brooklyn
399 Knickerbocker Avenue
$60
$60/SF
Building Size
13,000 SF
Asset Type
Retail
Closing
Aug 9, 2023
AI
A retail property located at 399 Knickerbocker Avenue in Bushwick, Brooklyn, has been leased. The property consists of 13,000 square feet and was leased by the tenant Five Below. The lease was a Modified Gross Lease with an asking rent of $60 per square foot. Jenel Management served as the landlord for this transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
The tenant, Five Below, was represented by Hilary Sievers and Erin Grace from JLL. On the other hand, Brian Doyle and Greg Parassio from Booth Street acted as the landlord's representatives in the deal.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93