Dallas BBQ Signs Ground Lease At 911 Erskine Street In East New York, Brooklyn
911 Erskine Street
$60
$60/SF
Building Size
12,574 SF
Asset Type
Retail
Closing
Nov 7, 2023
About this deal
AI
The property involved in this lease transaction is a retail space located at 911 Erskine Street in East New York, Brooklyn. The asset has a total square footage of 12,574 square feet. The landlord, Arker Company, entered into a ground lease agreement with the tenant, Dallas BBQ. The asking rent for the retail space was $60 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 911 Erskine Street, East New York, Brooklyn
- Market: East New York, Brooklyn
- Landlord: Arker Company
- Tenant: Dallas BBQ
- Landlord's Representative: Greg Parassio - Booth Street
- Tenant's Representative: Barry Fishbach - Newmark
- Asking Rent: $60 per square foot
- Lease Type: Ground Lease
In this lease deal, Greg Parassio from Booth Street represented the landlord, Arker Company, while Barry Fishbach from Newmark represented the tenant, Dallas BBQ.
On the Map
$60
$60/SF
Retail
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Players
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93