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:
- Property Type: Retail
- Transaction Amount: Lease expansion
- Address: 5323 5th Avenue
- Market: Sunset Park, Brooklyn
- Landlord: Comjem Associates
- Tenant: Alejandro Montoya - LEEP Dual Language Academy Charter School
- Brokers: Martin Cottingham, Michael Gottlieb & Patrick Steffens - Avison Young
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
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