Popular Bank Signs 10-Year Lease At 838 Nostrand Avenue In New York City
838 Nostrand Ave. Brooklyn, NY 11225, USA
$120
$120/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
May 24, 2023
About this deal
AI
The retail property located at 838 Nostrand Avenue in New York City has recently been leased. The property spans approximately 2,500 square feet and is owned by David Escava and Ayal Horovits.
Summary of transaction details:
- Property Type: Retail
- Lease Term: 10 years
- Asking Rent: $120/ft
- Square Footage: 2,500
- Landlord: David Escava & Ayal Horovits
- Tenant: Popular Bank
The lease deal was facilitated by real estate broker Josh Augenbaum from Augenbaum Realty. Josh Augenbaum represented the tenant, Popular Bank, in this transaction.
On the Map
$120
$120/SF
Retail
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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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93