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45 Broadway

Brooklyn Safehouse Leases Retail Space At 45 Broadway In Williamsburg, Brooklyn
LEASEDRetail

Brooklyn Safehouse Leases Retail Space At 45 Broadway In Williamsburg, Brooklyn

45 Broadway

$75

$75/SF

Building Size

2,888 SF

Asset Type

Retail

Closing

Nov 13, 2023

AI

Brooklyn Safehouse has leased a 2,888 square foot retail space at 45 Broadway in Williamsburg, Brooklyn. The NNN lease was facilitated by Joseph DiPiazza, John Le Vine, and Archibald Rowan of EXR. This marks Joseph DiPiazza's fourth deal with Brooklyn Safehouse, assisting the bar operator in expanding from a single storefront to four locations throughout Brooklyn. John Le Vine from EXR represented the landlord, Frontgate Management, in the transaction. The lease was executed through 45 Broadway NY LLC, with EXR representing both the tenant and the landlord.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 45 Broadway, Williamsburg, Brooklyn
  • Tenant: Brooklyn Safehouse
  • Landlord: Frontgate
  • Brokers: Joseph DiPiazza, John Le Vine, and Archibald Rowan - EXR
  • Asking Rent: $75/ft

Players

Joseph DiPiazza

EXR

Broker

$50.6M

vol

36 deals

Broker
BS
Brooklyn SafehouseTenant

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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93