Guitar Center Signs 15-Year Lease At 540 Fulton Mall, Downtown Brooklyn
540 Fulton Mall
$200
$200/SF
Building Size
19,289 SF
Asset Type
Retail
Closing
Mar 27, 2024
AI
The retail property located at 540 Fulton Mall in Downtown Brooklyn has been leased by Guitar Center, signing a 15-year lease for 19,289 square feet at an asking rent of $200 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 540 Fulton Mall
- Market: Downtown Brooklyn
- Asset Type: Retail
The landlord of the property, Jenel Real Estate, was represented by Abraham Dayan, Benjamin Weiner, and Hymie Dweck from Ripco. On the other hand, Guitar Center was represented by Bruce Shepard from TSCG in this significant 15-year lease deal.
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
79315.00%
Cash-on-Cash
-22668.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93