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
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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