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934 3rd Avenue, Brooklyn, N...

Japan Village Brooklyn And Sunrise Food Market Lease Retail Space In Sunset Park, BK
LEASEDRetail

Japan Village Brooklyn And Sunrise Food Market Lease Retail Space In Sunset Park, BK

934 3rd Avenue, Brooklyn, NY, USA

Building Size

40,000 SF

Asset Type

Retail

Closing

Nov 29, 2018

AI

A retail property located at 934 Third Ave in Sunset Park, Brooklyn has recently been leased. The property spans 40,000 square feet and is owned by Jamestown Properties and Angelo, Gordon & Co. The lease was signed by Japan Village Brooklyn and Sunrise Food Market.

Summary of transaction details

  • Property Type: Retail
  • Address: 934 Third Ave
  • Market: Sunset Park, Brooklyn
  • Tenant: Japan Village Brooklyn, Sunrise Food Market
  • Landlord: Jamestown Properties, Angelo, Gordon & Co.

Harris Bulow, Aric Trakhtenberg, and Chase Welles were the brokers involved in this lease deal. Harris Bulow is now with FlagshipEra, while Aric Trakhtenberg is with RKF.

The lease was priced at $50 per square foot, resulting in a total value of approximately $2,000,000.

Players

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

50 deals

Broker
Jamestown
JamestownLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93