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424a Third Avenue

Mitchell Shwartz Leases Retail Space At 424a Third Avenue To Bakline For $60/ft
LEASEDRetail

Mitchell Shwartz Leases Retail Space At 424a Third Avenue To Bakline For $60/ft

424a Third Avenue

$60

$60/SF

Building Size

2,400 SF

Asset Type

Retail

Closing

Aug 31, 2025

AI

The property asset involved in this transaction is a retail space located at 424a Third Avenue in the Gowanus market. The asset encompasses a total area of 2,400 square feet under a Single Net Lease structure, with an asking rent set at $60 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $144,000
  • Address: 424a Third Avenue
  • Market: Gowanus
  • Landlord: Mitchell Shwartz
  • Tenant: Bakline
  • Brokers: Eddie Mamiye, Isaac Bijou, Meyer Dagmy - MOD
  • Lease Type: Single Net Lease

The transaction was facilitated by brokers Eddie Mamiye, Isaac Bijou, and Meyer Dagmy, all representing the landlord, Mitchell Shwartz, in this lease agreement with tenant Bakline.

Players

Isaac Bijou

MOD

Broker

$1.4M

vol

39 deals

Broker
Meyer Dagmy
Verified Badge

Meyer Dagmy

MOD

Broker

$5.5M

vol

90 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

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93