facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

942 Flatbush Avenue

375 Chicken 'N Fries Leases Retail Space In Flatbush Brooklyn For Long Term
LEASEDRetail

375 Chicken 'N Fries Leases Retail Space In Flatbush Brooklyn For Long Term

942 Flatbush Avenue

$75

$75/SF

Building Size

2,000 SF

Asset Type

Retail

Closing

Feb 15, 2024

AI

The property at 942 Flatbush Avenue in Flatbush, Brooklyn, was leased for a Modified Gross Lease agreement. The space spans 2,000 square feet with an asking rent of $75 per square foot. The deal involves the landlord, Aziz Khidideh, representing Michael Moshe Realty, and the tenant, 375 Chicken 'N Fries. Denis Abayev from Commercial Acquisitions served as the landlord's representative, while Aric Trakhtenberg from Newmark acted as the tenant's representative. The lease was signed on 02/15/2024, with 375 Chicken 'N Fries securing a long-term deal for a location in Prospect Park South that includes a 2,000 square foot ground floor and a 2,000 square foot basement, previously occupied by KFC.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Address: 942 Flatbush Avenue
  • Market: Flatbush, Brooklyn

The notable individuals in this deal include Denis Abayev from Commercial Acquisitions who represented the landlord, Aziz Khidideh of Michael Moshe Realty, and Aric Trakhtenberg from Newmark who represented the tenant, 375 Chicken 'N Fries. This transaction brings together key players in the real estate industry, facilitating a successful lease agreement between the landlord and tenant.

Players

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

50 deals

Broker

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93