Boris & Horton Signs Lease For 2nd Location & HQ At 510 Driggs Ave. In Williamsburg, Brooklyn
510 Driggs Avenue
$165
$165/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Aug 22, 2022
About this deal
AI
The property asset involved in this transaction is a retail space located at 510 Driggs Ave., Williamsburg, Brooklyn. The lease for this asset was signed with an asking rent of $165 per square foot, covering a total area of 2,600 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $165/ft.
- Address: 510 Driggs Ave.
- Market: Williamsburg, Brooklyn
- Landlord: Northlink Capital
- Tenant: Boris & Horton
- Landlord's Representative: Brendan Thrapp & Nate Mallon - Verada
- Square Footage: 2,600 SF
The landlord's representatives for this deal, Brendan Thrapp and Nate Mallon from Verada, facilitated the signing of the lease agreement for Boris & Horton, marking their second location and headquarters at this address. This deal was completed prior to the building's completion.
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
96139.39%
Cash-on-Cash
-27476.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93