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470 Driggs Avenue

Kalmon Dolgin Leases Retail Space To Carneval At 470 Driggs Avenue Brooklyn For $75/ft
LEASEDRetail

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

Eddie Mamiye

Broker

$1.4M

vol

46 deals

Broker

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