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963 Coney Island Avenue

Egon Birnbaum Leases Retail Space To Syed Professional Services At 963 Coney Island Avenue
LEASEDRetail

Egon Birnbaum Leases Retail Space To Syed Professional Services At 963 Coney Island Avenue

963 Coney Island Avenue

$31

$31/SF

Building Size

2,750 SF

Asset Type

Retail

Closing

Jul 1, 2026

AI

The property asset involved in this transaction is a retail space located at 963 Coney Island Avenue in Brooklyn. It features a square footage of 2,750 and is leased under a Single Net Lease at an asking rent of $31 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $31/ft
  • Lease Type: Single Net Lease
  • Landlord: Egon Birnbaum
  • Tenant: Syed Professional Services
  • Brokers: Noam Aziz & Daniel Zacaim - Meridian Capital Group

The deal involves Noam Aziz and Daniel Zacaim representing the Meridian Capital Group, who facilitated the leasing transaction between the landlord and tenant. Their role underscores the collaboration within the brokerage community to secure this retail lease.

Players

Noam Aziz

Meridian Capital Group

Broker

$900K

vol

246 deals

Broker

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

511709.68%

Cash-on-Cash

-146248.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93