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634 Classon Avenue

Black Spruce Management Leases Retail Space To Alafia West African Cuisine In Brooklyn For $54/ft
LEASEDRetail

Black Spruce Management Leases Retail Space To Alafia West African Cuisine In Brooklyn For $54/ft

634 Classon Avenue

$54

$54/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

Jun 8, 2025

AI

The property asset involved in this transaction is located at 634 Classon Avenue in Brooklyn and is classified as a retail asset. It consists of 1,000 square feet and has an asking rent of $54 per square foot. The lease type for this property is a modified gross lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $54/ft
  • Address: 634 Classon Avenue
  • Market: Brooklyn
  • Landlord: Black Spruce Management - Adam Amsalem
  • Tenant: Alafia West African Cuisine
  • Broker: James Famularo & Cole Kleppinger - Meridian Capital Group

The transaction features key individuals and firms, including the landlord Adam Amsalem representing Black Spruce Management, and the tenant Alafia West African Cuisine. The brokers facilitating this lease are James Famularo and Cole Kleppinger from Meridian Capital Group.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

360 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage
Black Spruce Management
Black Spruce ManagementLandlord

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

293759.26%

Cash-on-Cash

-83957.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93