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5 Blue Slip, Brooklyn, NY, USA

Pure Green Leases Retail Space At 5 Blue Slip In Brooklyn
LEASEDRetail

Pure Green Leases Retail Space At 5 Blue Slip In Brooklyn

5 Blue Slip, Brooklyn, NY, USA

Building Size

850 SF

Asset Type

Retail

Closing

Mar 31, 2021

AI

Pure Green, represented by Ross Franklin, has signed a 10-year lease for a retail space located at 5 Blue Slip in Brooklyn. The property, owned by Park Tower Group and represented by Marian Klein, offers 850 square feet of space. The asking rent for the lease was $70 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 5 Blue Slip, Brooklyn
  • Tenant: Pure Green - Ross Franklin
  • Landlord: Park Tower Group - Marian Klein
  • Brokers: Peter Schubert & Bill Strassman - TerraCRG
  • Asking Rent: $70/ft
  • SF: 850
  • Term: 10-year

In this deal, Peter Schubert and Bill Strassman from TerraCRG represented the tenant, Ross Franklin, while the landlord, Park Tower Group, was represented by Marian Klein. The lease term will span 10 years, providing a long-term arrangement for Pure Green's retail presence in Brooklyn.

Players

Peter Schubert

Terra CRG

Broker

$2.2M

vol

7 deals

Broker
PG
Park Tower GroupLandlord
PG
Pure GreenTenant

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