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
About this deal
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.
On the Map
$31
$31/SF
Retail
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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
511709.68%
Cash-on-Cash
-146248.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93