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438 East 9th Street

BKLYN MACS Leases Retail Space At 438 East 9th Street From Landlord Nathan Obstfeld
LEASEDRetail

BKLYN MACS Leases Retail Space At 438 East 9th Street From Landlord Nathan Obstfeld

438 East 9th Street

$150

$150/SF

Building Size

400 SF

Asset Type

Retail

Closing

Sep 1, 2024

AI

The property asset involved in this transaction is a retail space located at 438 East 9th Street in the East Village, Manhattan. The asking rent for the space is $150 per square foot, with the total area measuring 400 square feet. The lease term is set for 10 years under a modified gross lease agreement.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $150/ft
  • Lease Term: 10 Years
  • Lease Type: Modified Gross Lease
  • Address: 438 East 9th Street
  • Market: East Village, Manhattan
  • Landlord: Nathan Obstfeld
  • Tenant: BKLYN MACS
  • Representing Brokers: Josh Augenbaum & Chaim Zagelbaum - Augenbaum Realty

The key individuals involved in the deal include Nathan Obstfeld as the landlord and BKLYN MACS as the tenant. The transaction was facilitated by brokers Josh Augenbaum and Chaim Zagelbaum, representing the property interests in this lease agreement.

Players

Josh Augenbaum

Augenbaum Realty

Broker

$655M

vol

144 deals

Broker

New York 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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93