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510 Driggs Avenue

Updated Oct 29, 2024

Baker Health Leases Retail Space At 510 Driggs Avenue In New York City
LEASEDRetail

Baker Health Leases Retail Space At 510 Driggs Avenue In New York City

510 Driggs Avenue

$165

$165/SF

Building Size

4,000 SF

Asset Type

Retail

Closing

Jan 24, 2023

About this deal

AI

The retail property located at 510 Driggs Avenue in New York City has been leased in a recent transaction. The landlord, Northlink Capital, has entered into an agreement with Baker Health, who will now occupy the space. The leasing deal was facilitated by Brendan Thrapp and Nate Mallon of Verada Retail, representing the landlord, and Samuel Bernhaut of CBRE, representing the tenant. The property encompasses 4,000 square feet and was listed with an asking rent of $165 per square foot.

Summary of Transaction Details

  • Property Type: Retail
  • Transaction Amount: Leased
  • Address: 510 Driggs Avenue, New York City
  • Market: New York City
  • Landlord: Northlink Capital
  • Tenant: Baker Health
  • Landlord's Rep: Brendan Thrapp & Nate Mallon - Verada Retail
  • Tenant's Rep: Samuel Bernhaut - CBRE
  • Asking Rent: $165 per square foot
  • Square Footage: 4,000

The leasing transaction at 510 Driggs Avenue was successfully negotiated by Brendan Thrapp and Nate Mallon, representatives of Verada Retail, who worked on behalf of the landlord, Northlink Capital. Samuel Bernhaut of CBRE acted as the tenant's representative, ensuring a smooth agreement between Baker Health and the property owner.

On the Map

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$165

$165/SF

Retail

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Players

Nathaniel Mallon

Verada

Broker

$9.8M

vol

24 deals

Broker
Northlink Capital
Northlink CapitalLandlord
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New York City Retail Market Snapshot

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Deal FAQ

About $165 per square foot on a published $165 for 4,000 square feet (2023).

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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

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