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510 Driggs Avenue

Barry's Bootcamp Leases Retail Space In Williamsburg For 10th NYC Location
LEASEDRetail

Barry's Bootcamp Leases Retail Space In Williamsburg For 10th NYC Location

510 Driggs Avenue

$150

$150/SF

Building Size

5,200 SF

Asset Type

Retail

Closing

Jun 11, 2024

AI

The retail property located at 510 Driggs Avenue in Williamsburg, Brooklyn, was leased by Barry’s Bootcamp for their 10th NYC location. The 5,200 square feet space is owned by Northlink Capital, with an asking rent of $150 per square foot.

Summary of transaction details:

The landlord representatives, Nathaniel Mallon and Brendan Thrapp of Verada, along with the tenant representatives Michael Cohen and Neal Ohm from Newmark, facilitated the 10-year lease agreement for Barry’s Bootcamp. The fitness brand's decision to open in this location is part of a strategic move to contribute to the community by being part of a curated mix of tenants in the fully occupied building owned by Northlink Capital.

Players

Nathaniel Mallon

Verada

Broker

$9.8M

vol

24 deals

Broker

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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93