Angelo, Gordon & Co. Leases Retail Space To Feather In Brooklyn
950 3rd Ave, Brooklyn, NY, 11232
Building Size
33,000 SF
Asset Type
Retail
Closing
Jul 9, 2021
AI
The retail property located at 950 3rd Ave, Brooklyn, NY, 11232, in the Brooklyn market, has been leased for commercial use. The landlord, Angelo, Gordon & Co., successfully secured a lease agreement with Feather, a tenant, for a retail space spanning 33,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 950 3rd Ave, Brooklyn, NY, 11232
- Market: Brooklyn
- Landlord's Rep: Matthew Stewart (Jamestown)
- Tenant: Feather
- Landlord: Angelo, Gordon & Co.
- Square Feet: 33,000
Matthew Stewart from Jamestown represented the landlord, Angelo, Gordon & Co., in the leasing transaction, facilitating the agreement with Feather for the sizable retail space. This lease marks a significant agreement in the Brooklyn market, aligning the objectives of the landlord and tenant for the utilization of the property.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93