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81 Morgan Avenue

Hanger Clinic Joins Storage Deluxe At 81 Morgan Avenue With 10 Year Lease In Brooklyn
LEASEDRetail

Hanger Clinic Joins Storage Deluxe At 81 Morgan Avenue With 10 Year Lease In Brooklyn

81 Morgan Avenue

$60

$60/SF

Building Size

1,767 SF

Asset Type

Retail

Closing

Jul 1, 2024

AI

The property asset involved in this transaction is a retail space located at 81 Morgan Avenue in East Williamsburg, Brooklyn. The asking rent for the space is $60 per square foot, and it encompasses a total of 1,767 square feet. The lease agreement has a duration of 10 years.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $60/ft.
  • Lease Term: 10 years
  • Landlord: Storage Deluxe
  • Tenant: Hanger Clinic
  • Brokers: Ryan Schimel & Andrew Schulman - Capricorn Retail Advisors
  • Remaining Space: Approximately 14,000 SF available for additional tenants

Ryan Schimel and Andrew Schulman of Capricorn Retail Advisors were instrumental in facilitating this lease transaction. Their involvement highlights a growing interest in the retail sector within the Bushwick area, which is seeing new tenants like Hanger Clinic establishing a presence at Storage Deluxe's 81 Morgan Avenue location.

Players

Ryan Schimel

Capricorn Retail Advisors

Broker

$4.5M

vol

7 deals

Broker

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

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93