Kalmon Dolgin Leases Retail Space To Carneval At 470 Driggs Avenue Brooklyn For $75/ft
470 Driggs Avenue
$75
$75/SF
Building Size
7,500 SF
Asset Type
Retail
Closing
Aug 1, 2024
AI
The property asset involved in this transaction is a retail space located at 470 Driggs Avenue in Brooklyn. The asking rent for the lease is $75 per square foot, with a total area of 7,500 square feet. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $75/ft
- Lease Type: Modified Gross Lease
- Landlord: Kalmon Dolgin
- Tenant: Carneval
- Broker: Eddie Mamiye - MOD Commercial Realty
This transaction highlights the role of key individuals in the deal. Eddie Mamiye represents MOD Commercial Realty as the broker for the tenant, Carneval, assisting in finalizing the lease agreement with the landlord, Kalmon Dolgin.
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93