Allen Esses Leases Retail Space At 989 Flatbush Avenue To Loco Hot Deals Of Flatbush
989 Flatbush Avenue
$66
$66/SF
Building Size
1,800 SF
Asset Type
Retail
Closing
Jun 4, 2025
AI
The property involved in this lease transaction is located at 989 Flatbush Avenue, Brooklyn, and is categorized as retail space with a total square footage of 1,800. The asking rent for the property is $66 per square foot, and the lease type is a modified gross lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $119,880
- Address: 989 Flatbush Avenue
- Landlord: Allen Esses
- Tenant: Loco Hot Deals of Flatbush
- Broker: Joey Kafif - Safdie Realty Group
- Lease Type: Modified Gross Lease
- Market: Brooklyn
Joey Kafif represents Safdie Realty Group in this transaction, which specializes in landlord and tenant representation across multiple boroughs including Brooklyn, Bronx, Manhattan, Queens, and Staten Island. Anyone looking to lease out a space or find the ideal location can contact Joey Kafif for expert assistance.
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
240348.48%
Cash-on-Cash
-68692.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93