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507 Myrtle Avenue

Thrive Management Leases Retail Space To Kush & Kicks At 507 Myrtle Avenue In Clinton Hill
LEASEDRetail

Thrive Management Leases Retail Space To Kush & Kicks At 507 Myrtle Avenue In Clinton Hill

507 Myrtle Avenue

$180

$180/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

Jul 20, 2025

AI

The asset involved in this transaction is a retail property located at 507 Myrtle Avenue in the Clinton Hill market. The property has a lease type categorized as a Retail Lease, with a square footage of 1,000 and an asking rent of $180 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $180/ft
  • Square Footage: 1,000
  • Address: 507 Myrtle Avenue
  • Market: Clinton Hill
  • Landlord: Thrive Management
  • Tenant: Kush & Kicks
  • Brokers: Malik Wells, Solomon Tbeile & Marc Sitt - KSR
  • Lease Type: Retail Lease

The deal saw representation from brokers Malik Wells, Solomon Tbeile, and Marc Sitt belonging to KSR, affirming their role in facilitating the transaction between Thrive Management and the tenant, Kush & Kicks.

Players

Marc Sitt

Kassin Sabbagh Realty

Broker

$272.9M

vol

64 deals

Broker
Kassin Sabbagh Realty
Kassin Sabbagh RealtyBrokerage

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

88127.78%

Cash-on-Cash

-25187.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93