Quinlan Development Group Leases Retail Space To Sobol Brooklyn French Bakers In Downtown Brooklyn
41 Flatbush Avenue
$95
$95/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Jun 24, 2025
AI
The property asset involved in this lease transaction is located at 41 Flatbush Avenue in Brooklyn, specifically in the retail market. The asking rent for this asset is set at $95 per square foot, and it encompasses a total area of 2,000 square feet. The landlord for this property is Quinlan Development Group, while the tenant is Sobol, Brooklyn French Bakers.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $190,000
- Landlord: Quinlan Development Group
- Tenant: Sobol, Brooklyn French Bakers
- Landlord's Representative: Murray Mizrachi & Josh Augenbaum - Augenbaum Realty
- Tenant's Representatives: Brandon Miller - Masonre & Brandon Roselli - Zelnik & Company
- Lease Type: Retail Lease
- Date: 6/25/2025
- Remaining Spaces: 1 at Pioneer Building, Downtown Brooklyn
The key individuals in this deal include the landlord's representatives, Murray Mizrachi and Josh Augenbaum from Augenbaum Realty, and the tenant's representatives, Brandon Miller from Masonre and Brandon Roselli from Zelnik & Company. A note from the landlord's representative indicates their pride in securing two new tenants for the Pioneer Building and encourages further inquiries regarding the remaining space.
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
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93