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
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