Thor Equities Leases Retail Space To The Finery In Brooklyn, NY
527 Atlantic Ave, Brooklyn, NY, 11217
Building Size
2,000 SF
Asset Type
Retail
Closing
Aug 7, 2019
About this deal
AI
The property at 527 Atlantic Ave, Brooklyn, NY, 11217, is a retail asset with a square footage of 2000. The lease for this property was finalized on 08/07/2019 in the Brooklyn market. The tenant, The Finery, was represented by Michael Balanevsky of Accent Holdings, and the landlord, Thor Equities, was represented by Sam Sabin.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Tenant: The Finery
- Landlord: Thor Equities
- Square Feet: 2000
- Tenant's Representative: Michael Balanevsky (Accent Holdings)
- Landlord's Representative: Sam Sabin (Thor Equities)
The negotiation process for the lease agreement involved Michael Balanevsky from Accent Holdings as the tenant's representative and Sam Sabin from Thor Equities as the landlord's representative. The deal was brokered successfully, leading to a finalized lease agreement for the retail space located in Brooklyn.
On the Map
Retail
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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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93