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639 Driggs Ave, Williamsbur...

K Top Chicken Leases Retail Space In Williamsburg At 639 Driggs Ave With All Year Management
LEASEDRetail

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

Zacharia Setton

Momentum Realty Group

Broker

12 deals

Broker
AM
All Year ManagementLandlord

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