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:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 510 Driggs Avenue
- Market: Williamsburg, Brooklyn
- Tenant: Barry’s Bootcamp
- Landlord: Northlink Capital
- Landlord's Rep: Nathaniel Mallon & Brendan Thrapp - Verada
- Tenant's Rep: Michael Cohen & Neal Ohm - Newmark
- Lease Term: 10 years
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
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