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50 Pennsylvania Avenue

Fine Fare Leases Retail Space At 50 Pennsylvania Ave In East New York
LEASEDRetail

Fine Fare Leases Retail Space At 50 Pennsylvania Ave In East New York

50 Pennsylvania Avenue

$35

$35/SF

Building Size

18,360 SF

Asset Type

Retail

Closing

Sep 15, 2022

AI

The retail property located at 50 Pennsylvania Ave. in East New York has been leased. The asset, spanning 18,360 square feet, was leased by Fine Fare. The landlord, Pennrose, was represented by Greg Parassio and Brian Doyle of Booth Capital. The lease was secured at an asking rent of $35 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 50 Pennsylvania Ave.
  • Market: East New York
  • Tenant: Fine Fare
  • Landlord: Pennrose
  • Landlord Representative: Greg Parassio & Brian Doyle - Booth Capital
  • Asking Rent: $35/ft.
  • Square Footage: 18,360

Greg Parassio and Brian Doyle from Booth Capital represented the landlord, Pennrose, in the lease transaction with Fine Fare for the retail property at 50 Pennsylvania Ave. in East New York. The details of the deal, including the lease terms and negotiations, were handled by these key individuals.

Players

Brian Doyle

Booth Street

Broker

9 deals

Broker
P
PennroseLandlord

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

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93