Forte Construction Corp. Leases Retail Space In Boerum Hill For $62/ft
83 3rd Avenue
$62
$62/SF
Building Size
4,000 SF
Asset Type
Retail
Closing
Mar 1, 2024
AI
The retail property located at 83 3rd Avenue in Boerum Hill, Brooklyn, was leased in a transaction involving landlord Ben Atkins and tenant Forte Construction Corp. The property spans 4,000 square feet, with an asking rent of $62 per square foot, under a Modified Gross Lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Landlord: Ben Atkins
- Tenant: Forte Construction Corp.
- Landlord's Rep: Jon Kamali, Jeremy Kamali & Justin Kamali - J3K Real Estate
- Tenant's Rep: Elliot Zelinger & Scott Fink - Savitt Partners
The deal was facilitated by Jon Kamali, Jeremy Kamali, and Justin Kamali from J3K Real Estate, representing the landlord, while Elliot Zelinger and Scott Fink from Savitt Partners acted as the tenant's representatives in the lease agreement at 83 3rd Avenue.
Players
New York 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
255854.84%
Cash-on-Cash
-73124.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93