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7825 3rd Avenue

Orange Theory Fitness Leases Retail Space In Bay Ridge, Brooklyn For $55/ft
LEASEDRetail

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

Craig Gelberg

Ripco

Broker

6 deals

Broker

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

288418.18%

Cash-on-Cash

-82430.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93