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483 Driggs Avenue, Brooklyn...

PBIC - Golden Record Signs Lease For Retail Space In Williamsburg, Brooklyn
LEASEDRetail

PBIC - Golden Record Signs Lease For Retail Space In Williamsburg, Brooklyn

483 Driggs Avenue, Brooklyn, New York 11211, United States

Building Size

1,625 SF

Asset Type

Retail

Closing

Apr 19, 2022

AI

The retail property located at 483 Driggs Ave. in Williamsburg, Brooklyn has recently been leased. The property is approximately 1,625 square feet and was leased by PBIC - Golden Record. The landlord for this transaction is John Ziegler. The leasing of this retail space was facilitated by Joseph DiPiazza, Stephen Forino, and John Le Vine of EXR, one of Brooklyn's most active retail leasing companies.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Lease
  • Date: 04/20/2022
  • Address: 483 Driggs Ave.
  • Market: Williamsburg, Brooklyn
  • Landlord: John Ziegler
  • Tenant: PBIC - Golden Record

This lease deal was a result of the collaborative efforts of EXR's leasing team, led by Joseph DiPiazza, Stephen Forino, and John Le Vine. They successfully negotiated the terms between the landlord and tenant, ensuring a beneficial outcome for all parties involved. EXR, with its headquarters in North Williamsburg, has a strong reputation for bringing world-class retail tenants to the borough's best spaces. PBIC - Golden Record is expected to open their store in the near future.

Players

Joseph DiPiazza

EXR

Broker

$50.6M

vol

36 deals

Broker

John Ziegler

Landlord

$13M

vol

3 deals

Landlord

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