K Top Chicken Leases Retail Space In Williamsburg At 639 Driggs Ave With All Year Management
639 Driggs Ave, Williamsburg, Brooklyn, NY, USA
Building Size
1,100 SF
Asset Type
Retail
Closing
Nov 30, 2020
AI
Located at 639 Driggs Ave in Williamsburg, this retail property was recently leased. The tenant, K Top Chicken, signed a lease agreement with the landlord, All Year Management. The deal was facilitated by brokers Zacharia Setton from iveLikeALocalNYC and Moshe Akiva from TriStateCommercial. The lease transaction took place on 12/01/2020.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $87.27/ft. ~ SF: 1,100
Zacharia Setton from iveLikeALocalNYC and Moshe Akiva from TriStateCommercial represented the tenant and landlord, respectively. They played a crucial role in negotiating the lease terms and ensuring a successful transaction. The lease agreement between K Top Chicken and All Year Management is a significant milestone in the retail market in Williamsburg.
Players
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93