Orange Theory Fitness Leases Retail Space In Bay Ridge, Brooklyn For $55/ft
7825 3rd Avenue
$55
$55/SF
Building Size
3,781 SF
Asset Type
Retail
Closing
Mar 1, 2024
AI
The retail property located at 7825 3rd Avenue in Bay Ridge, Brooklyn has been leased to Orange Theory Fitness. The lease, facilitated by KSR representing the landlord George Kabbez and Ripco representing the tenant, covers a space measuring 3,781 square feet at an asking rent of $55 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 7825 3rd Avenue
- Market: Bay Ridge, Brooklyn
- Landlord: George Kabbez
- Tenant: Orange Theory Fitness
- Landlord's Rep: Eli Yadid, Rafi Benor & Nathan Ades - KSR
- Tenant's Rep: Craig Gelberg - Ripco
- Asking Rent: $55/ft
- SF: 3,781
- Lease Type: Retail Lease
Congratulations to both the landlord and tenant on finalizing this lease deal. The collaboration between George Kabbez and Orange Theory Fitness, with the representation of KSR and Ripco, brings Orange Theory Fitness to the vibrant area of Bay Ridge, Brooklyn, marking an exciting new chapter for the community.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93