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400 Avenue U

IDB Bank Signs Retail Lease With Dweck Family At 400 Avenue U In Brooklyn For 2500 Square Feet
LEASEDRetail

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:

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

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

51 deals

Broker
DF
Dweck FamilyLandlord
IB
IDB BankTenant

Brooklyn 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