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
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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