IDB Bank Signs Retail Lease With Dweck Family At 400 Avenue U In Brooklyn For 2500 Square Feet
400 Avenue U
Building Size
2,500 SF
Asset Type
Retail
Closing
Jun 30, 2023
AI
The asset involved in this lease transaction is a retail property located at 400 Avenue U in Brooklyn, consisting of 2500 square feet. The landlord of the property is the Dweck Family.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 400 Avenue U
- Market: Brooklyn
- Square Feet: 2500.0
- Tenant: IDB Bank
- Landlord: Dweck Family
- Broker Representatives: Aric Trakhtenberg - Newmark, David Berke - Newmark, Lance S Korman - Not specified, Brian S Waterman - Not specified
- Lease Date: 06/30/2023
The key individuals involved in this transaction include brokers representing both the landlord and tenant. Aric Trakhtenberg and David Berke represent the tenant IDB Bank through Newmark, while Lance S Korman and Brian S Waterman are also involved, although their affiliations are not specified.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93