MedRite Urgent Care Leases 2,500 Square Feet Retail Space At 504 Myrtle Ave Brooklyn
504 Myrtle Ave
Building Size
2,500 SF
Asset Type
Retail
Closing
Jan 1, 2017
About this deal
AI
The property asset involved in the transaction is a retail space located at 504 Myrtle Ave in Brooklyn. The leased area encompasses a total of 2,500 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 504 Myrtle Ave
- Market: Brooklyn
- Square Feet: 2500.0
- Tenant: MedRite Urgent Care
- Landlord: Michael Orbach
- Broker Representatives: Jake Bistrizky, Thomas Caliendo (Tide Realty Group), Daniel D. DePasquale
The key individuals involved in the deal include the landlord, Michael Orbach, and the tenant, MedRite Urgent Care, which arranged the lease through the represented brokering teams. The deal showcases the involvement of multiple broker representatives with distinct roles in facilitating the transaction.
On the Map
Retail
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Players
Brooklyn 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