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487 Clermont Ave, Brooklyn,...

RXR Realty Leases 14795 SF Retail Space In Brooklyn With Tenant's Rep Charter Realty & Development
LEASEDRetail

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

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.

Players

Madeline Naro

RXR Realty

Broker

2 deals

Broker
RXR Realty
RXR RealtyLandlord

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