Chuan Chuan Spa Leases Retail Space At 461 Sterling Place In Prospect Heights For $56/ft
461 Sterling Place
$56
$56/SF
Building Size
700 SF
Asset Type
Retail
Closing
Sep 9, 2024
AI
The retail lease transaction involves a property located at 461 Sterling Place in the Prospect Heights neighborhood of Brooklyn. The asset is priced at an asking rent of $56 per square foot, encompassing a total area of 700 square feet.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $39,200
- Address: 461 Sterling Place
- Market: Prospect Heights, Brooklyn
- Landlord: Shel Capital, Rony Kravel
- Tenant: Chuan Chuan Spa
- Landlord's Representative: James Famularo & Bobby Ortense - Meridian Capital Group
- Tenant's Representative: Yu Yong - Eastriver Realty Brokerage
- Lease Type: Retail Lease
This transaction features prominent individuals and companies, including James Famularo and Bobby Ortense representing Shel Capital as the landlord's representatives through Meridian Capital Group, and Yu Yong acting on behalf of the tenant, Chuan Chuan Spa, via Eastriver Realty Brokerage.
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
283267.86%
Cash-on-Cash
-80958.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93