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
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.
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