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399 Knickerbocker Avenue

Five Below Signs Lease For Retail Space At 399 Knickerbocker Avenue, Bushwick, Brooklyn
LEASEDRetail

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

Hilary Sievers

JLL

Broker

7 deals

Broker
Jenel Management
Jenel ManagementLandlord

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