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470 Driggs Ave, Brooklyn, N...

STUSH NYC Leases Retail Space In Brooklyn's Driggs Avenue
LEASEDRetail

STUSH NYC Leases Retail Space In Brooklyn's Driggs Avenue

470 Driggs Ave, Brooklyn, NY 11211, USA

Building Size

5,000 SF

Asset Type

Retail

Closing

Aug 20, 2020

AI

Located at 470 Driggs Avenue in Brooklyn, this retail property was recently leased to STUSH NYC. The property offers 5,000 square feet of space with an asking rent of $75 per square foot. The lease transaction was completed on August 21, 2020. The landlord, Kalmon Dolgin represented by Josh Dolgin, facilitated the deal.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 08/21/2020
  • Address: 470 Driggs Avenue, Brooklyn
  • Asking Rent: $75 per square foot
  • Tenant: STUSH NYC
  • Landlord: Kalmon Dolgin represented by Josh Dolgin

Peter Schubert, Bill Strassman, and Abbie Cheng from TerraCRG served as the brokers for the transaction.

Players

Abbie Cheng

Terra CRG

Broker

2 deals

Broker

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