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
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