Oak Fitness Inc Signs 60-Year Lease At 65 4th Avenue In Boreum Hill Brooklyn
65 4th Avenue
Building Size
1,400 SF
Asset Type
Retail
Closing
May 7, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 65 4th Avenue in Boreum Hill, Brooklyn. The space encompasses 1,400 square feet and has an asking rent of $94 per square foot. This lease is a modified gross lease with a term of 60 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $94/ft
- Lease Term: 60 Years
- Lease Type: Modified Gross Lease
- Landlord: Bedford Enterprises
- Tenant: Oak Fitness Inc
- Landlord's Representative: Joey Sakkal & Joseph Bouzaglou - Tri State Commercial Realty
- Tenant's Representative: Matt Hopkins - Acona Real Estate
The key individuals involved in this transaction include Joey Sakkal and Joseph Bouzaglou, representing the landlord, and Matt Hopkins, who represents the tenant. Each played a significant role in facilitating this long-term leasing agreement.
On the Map
Retail
View full map
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Visit Joseph (Joey) Bouzaglou to view all their deals.
Browse New York retail leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
168755.32%
Cash-on-Cash
-48230.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93