RXR Realty Leases 14795 SF Retail Space In Brooklyn With Tenant's Rep Charter Realty & Development
487 Clermont Ave, Brooklyn, NY, 11238
Building Size
14,795 SF
Asset Type
Retail
Closing
Aug 2, 2022
About this deal
AI
The retail property located at 487 Clermont Ave, Brooklyn, NY, 11238, boasts a spacious 14,795 square feet in the bustling market of Brooklyn. The landlord, RXR Realty, facilitated a lease transaction on 08/02/2022 for this prime retail space, with Scott Edlitz of Charter Realty & Development representing the tenant.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Tenant's Representative: Scott Edlitz (Charter Realty & Development)
- Landlord's Representative: Madeline Naro (RXR Realty)
Madeline Naro of RXR Realty served as the landlord's representative in the deal, successfully securing a lease for the retail space at 487 Clermont Ave. Scott Edlitz, representing Charter Realty & Development, negotiated on behalf of the tenant to finalize the agreement, highlighting the collaborative effort between the key individuals and companies involved in this transaction.
On the Map
Retail
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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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93