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400 Troutman Street

Canvan Hospitality Inc Subleases Retail Space At 400 Troutman Street In Bushwick, Brooklyn
LEASEDRetail

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

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.

Players

Jacob Mayer

Meridian Capital Group

Broker

50 deals

Broker

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

188845.24%

Cash-on-Cash

-53972.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93