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535 Clinton Avenue

New York-Based Healthcare System Leases 12,000 SF Retail Space At 535 Clinton Avenue
LEASEDRetail

New York-Based Healthcare System Leases 12,000 SF Retail Space At 535 Clinton Avenue

535 Clinton Avenue

$40

$40/SF

Building Size

12,000 SF

Asset Type

Retail

Closing

Jun 30, 2025

AI

The property asset involved in the transaction is a retail space located at 535 Clinton Avenue in Brooklyn. It spans a total of 12,000 square feet and is leased under a Single Net Lease arrangement with an asking rent of $40 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $480,000 (calculated as $40/ft x 12,000 SF)
  • Date of Lease: 7/1/2025
  • Landlord: Michael Butler - Bonjour Capital
  • Tenant: New York-Based Healthcare System
  • Brokers: James Famularo, Jacob Mayer & Cole Kleppinger - Meridian Capital Group

Key individuals involved in the transaction include landlord Michael Butler, representing Bonjour Capital, and the tenant, a New York-Based Healthcare System. The brokers securing the lease were James Famularo, Jacob Mayer, and Cole Kleppinger from Meridian Capital Group, who facilitated the deal.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

367 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage

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

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93