Two Trees Leases Retail Space At 45 Main Street Brooklyn To SixPenny For Long Term
45 Main Street
$150
$150/SF
Building Size
5,200 SF
Asset Type
Retail
Closing
Nov 1, 2024
AI
The property asset involved in the transaction is located at 45 Main Street in Brooklyn and is categorized as a retail asset. The asking rent for this space is set at $150 per square foot, encompassing a total area of 5,200 square feet. The lease is structured as a single net lease with a long-term commitment.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $150/ft
- Square Footage: 5,200
- Address: 45 Main Street
- Market: Brooklyn
- Landlord: Two Trees
- Tenant: SixPenny
- Lease Term: Long Term
- Lease Type: Single Net Lease
- Brokers: Brandon Singer & Michael Cody - Retail By Mona
Brandon Singer and Michael Cody represent the broker agency involved in this lease transaction, acting on behalf of the parties related to the deal. The landlords are recognized as Two Trees, while the tenants are identified as SixPenny, marking a collaborative effort in securing this lease.
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
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93