Court 16 Opens Flagship Tennis Club At City Point In Downtown Brooklyn
445 Albee Square W, Brooklyn, NY 11201, United States
$60
$60/SF
Building Size
26,000 SF
Asset Type
Retail
Closing
Jul 1, 2023
AI
Court 16, the renowned tennis club, is set to open its flagship location at 445 Albee Square in City Point, Downtown Brooklyn. Spanning an impressive 26,000 square feet, this state-of-the-art venue will feature seven courts, a chic Ligne Roset lounge, and NYC's most comprehensive Babolat product line. With its modern facilities and innovative offerings, Court 16 is redefining tennis and pickleball experiences for both kids and adults.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $60/ft
- Square Footage: 26,000
- Address: 445 Albee Square - City Point
- Market: Downtown Brooklyn
The landlord, Acadia Realty Trust represented by AJ Levine, has partnered with Court 16 CEO Anthony Evrard to bring this flagship venue to life. The deal was facilitated by Ariel Schuster and Tyler King from Newmark, serving as the landlord's representatives. On the tenant's side, Jon Kamali from J3K Real Estate and Bradley Cohen from CBRE represented Court 16 in the negotiations.
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