Aloha Krab Leases Retail Space In Brooklyn For $60/ft
438 Utica Avenue, Brooklyn, NY, USA
Building Size
1,617 SF
Asset Type
Retail
Closing
Jan 7, 2021
About this deal
AI
The retail property located at 438 Utica Avenue in Brooklyn has been leased. The transaction was finalized on 01/08/2021. The property, spanning 1,617 square feet, was leased by Aloha Krab. The landlord for this lease agreement is Soly A. Bawabeh and Eddie Mizrachi. The leasing deal was facilitated by brokers Josh Augenbaum from Augenbaum Realty NY and Bruce Herman from Booth Capital Realty. The asking rent for the property was $60 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: N/A
- Address: 438 Utica Avenue, Brooklyn
- Market: Brooklyn
- Tenant: Aloha Krab
- Landlord: Soly A. Bawabeh and Eddie Mizrachi
- Brokers: Josh Augenbaum from Augenbaum Realty NY and Bruce Herman from Booth Capital Realty
- Asking Rent: $60 per square foot
Josh Augenbaum from Augenbaum Realty NY and Bruce Herman from Booth Capital Realty played key roles as brokers in this lease transaction. They represented the tenant and landlord respectively.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93