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41 Flatbush Avenue

Quinlan Development Group Leases Retail Space To Sobol Brooklyn French Bakers In Downtown Brooklyn
LEASEDRetail

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

Josh Augenbaum

Augenbaum Realty

Broker

$652.8M

vol

140 deals

Broker
Augenbaum Realty
Augenbaum RealtyBrokerage
Masonre
MasonreBrokerage

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