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5323 5th Avenue

LEEP Dual Language Academy Charter School Expands Lease In Sunset Park To 37,924 Sq. Ft
LEASEDRetail

LEEP Dual Language Academy Charter School Expands Lease In Sunset Park To 37,924 Sq. Ft

5323 5th Avenue

Building Size

37,924 SF

Asset Type

Retail

Closing

Mar 5, 2025

AI

The asset involved in the transaction is a retail property located at 5323 5th Avenue in Sunset Park, Brooklyn, comprising a total of 37,924 square feet. The property is under the ownership of Comjem Associates.

Summary of transaction details:

This transaction marks a significant lease expansion for LEEP Dual Language Academy Charter School, which is nearly tripling its space at the address, increasing from 13,424 to 37,924 square feet. The representatives involved in this deal from Avison Young include Martin Cottingham, Michael Gottlieb, and Patrick Steffens.

Players

Martin Cottingham

Avison Young

Broker

$90.5M

vol

9 deals

Broker
CA
Comjem AssociatesLandlord

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