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80 4th St Brooklyn, NY 1123...

PKLYN Pickleball Leases Retail Space At 80 4th Street In Gowanus, Brooklyn With Landlord's Rep Ryan Condren And Tenant's Rep Ralph Hanan & Brett Weinblatt - Compass
LEASEDRetail

PKLYN Pickleball Leases Retail Space At 80 4th Street In Gowanus, Brooklyn With Landlord's Rep Ryan Condren And Tenant's Rep Ralph Hanan & Brett Weinblatt - Compass

80 4th St Brooklyn, NY 11231, USA

$50

$50/SF

Building Size

16,876 SF

Asset Type

Retail

Closing

Jul 28, 2023

AI

A retail space located at 80 4th Street in Gowanus, Brooklyn has been leased. The property spans 16,876 square feet and has an asking rent of $50 per square foot. The lease term is set for 10 years.

Summary of transaction details

  • Property Type: Retail
  • Asking Rent: $50/ft
  • Square Footage: 16,876
  • Address: 80 4th Street, Gowanus, Brooklyn
  • Market: Gowanus, Brooklyn

The landlord of the property is Bill Caleo, and the tenant is PKLYN Pickleball. Representing the landlord in the deal is Ryan Condren from JLL. The tenant's representatives are Ralph Hanan and Brett Weinblatt from Compass.

Players

Ralph Hanan

Compass

Broker

$11.8M

vol

10 deals

Broker

Bill Caleo

Landlord

$2.9M

vol

2 deals

Landlord

Market 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

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93