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
About this deal
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.
On the Map
$54
$54/SF
Retail
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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
293759.26%
Cash-on-Cash
-83957.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93