Scott Stewart Leases Retail Space At 687 Manhattan Avenue To Cooper Mug Coffee With Sara Lamstein As Tenant's Rep
687 Manhattan Avenue
$120
$120/SF
Building Size
600 SF
Asset Type
Retail
Closing
Apr 30, 2025
AI
The retail asset located at 687 Manhattan Avenue in Brooklyn features a lease agreement with an asking rent of $120 per square foot. The total leased space encompasses 600 square feet, under a Modified Gross Lease type.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $120/ft
- Address: 687 Manhattan Avenue
- Market: Brooklyn
- Lease Type: Modified Gross Lease
- Landlord: Scott Stewart
- Tenant: Cooper Mug Coffee
- Tenant's Representative: Sara Lamstein - Meridian Capital Group
The transaction involves key individuals such as Scott Stewart, serving as the landlord, and Sara Lamstein representing the tenant, Cooper Mug Coffee, demonstrating the collaborative efforts in securing the lease.
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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93