Cheeryos Day Care Signs 10 Year Lease At 600 Crown Street In Crown Heights Brooklyn
600 Crown Street
$50
$50/SF
Building Size
12,500 SF
Asset Type
Retail
Closing
Nov 4, 2024
AI
The retail asset located at 600 Crown Street in Crown Heights, Brooklyn, encompasses a total of 12,500 square feet. The property has been leased for a duration of 10 years under a Double Net Lease agreement, with an asking rent set at $50 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $625,000
- Landlord: Chaim Drizin
- Tenant: Cheeryos Day Care
- Landlord's Representative: Mendel Jacobson - Tri State Commercial Realty
- Tenant's Representative: Duvy Biller - Tri State Commercial Realty
The lease agreement involves two representatives from Tri State Commercial Realty, with Mendel Jacobson representing the landlord, Chaim Drizin, while Duvy Biller represents the tenant, Cheeryos Day Care.
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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93