Scott Stewart And Young Yoon Lease Retail Space At 687 Manhattan Avenue To Copper Mug Coffee
687 Manhattan Avenue
$120
$120/SF
Building Size
600 SF
Asset Type
Retail
Closing
Apr 30, 2025
AI
The property involved in this transaction is a retail asset located at 687 Manhattan Avenue in Brooklyn. The lease agreement has an asking rent of $120 per square foot for a total space of 600 square feet. The lease term is set for 10 years, categorized as a Single Net Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $120/ft
- Lease Term: 10 Years
- Lease Type: Single Net Lease
- Landlord: Scott Stewart & Young Yoon
- Tenant: Copper Mug Coffee
- Landlord's Representative: Joseph DiPiazza & David Quigua - EXR
- Tenant's Representative: Sara Lamstein - Meridian Capital Group
The deal involves notable individuals such as Scott Stewart and Young Yoon, acting as the landlords, and Copper Mug Coffee as the tenant. The representatives facilitating the transaction include Joseph DiPiazza and David Quigua, who represent the landlords, while Sara Lamstein represents the tenant in this lease agreement.
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