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499 Evergreen Avenue, Brook...

Urban View Leases Retail Space In Bushwick To The Learning Factory On Evergreen St
LEASEDRetail

Urban View Leases Retail Space In Bushwick To The Learning Factory On Evergreen St

499 Evergreen Avenue, Brooklyn, New York 11221, United States

Building Size

8,500 SF

Asset Type

Retail

Closing

May 3, 2022

AI

A retail property located at 499-503 Evergreen in Bushwick has been leased. The property, totaling 8,500 square feet, was leased to The Learning Factory. The lease was facilitated by Joseph DiPiazza, John Le Vine, and Stephen Forino of EXR. The asking rent for the space was $34 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Address: 499-503 Evergreen, Bushwick
  • Tenant: The Learning Factory
  • Broker: Joseph DiPiazza, John Le Vine, and Stephen Forino - EXR
  • Asking Rent: $34/ft.
  • Size: 8,500 SF

The lease deal was successfully negotiated by Joseph DiPiazza, John Le Vine, and Stephen Forino of EXR. They represented the landlord, Urban View, in the transaction. The lease agreement provides exceptional value to all stakeholders, including the community.

Players

Joseph DiPiazza

EXR

Broker

$50.6M

vol

36 deals

Broker
UV
Urban ViewLandlord

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