Canvan Hospitality Inc Subleases Retail Space At 400 Troutman Street In Bushwick, Brooklyn
400 Troutman Street
$84
$84/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Jan 22, 2024
About this deal
AI
A retail lease transaction has been completed at 400 Troutman Street in Bushwick, Brooklyn. The property, measuring 1,000 square feet, was leased under a sublease agreement. The sublandlord, Bado - Dogan Karakas, has entered into an agreement with the subtenant, Canvan Hospitality Inc, for this retail space.
Summary of transaction details:
- Property Type: Retail
- Address: 400 Troutman Street
- Market: Bushwick, Brooklyn
- Sublandlord: Bado - Dogan Karakas
- Subtenant: Canvan Hospitality Inc
- Brokers: Jacob Mayer - Meridian Capital Group & Max Lu - MCRE NYC Inc
The lease was facilitated by brokers Jacob Mayer from Meridian Capital Group and Max Lu from MCRE NYC Inc. The asking rent for the 1,000 square feet retail space was $84 per square foot.
On the Map
$84
$84/SF
Retail
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Players
Brooklyn Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
188845.24%
Cash-on-Cash
-53972.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93