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
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