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250 Cadman Plaza West

Cadman Towers Inc Leases Retail Space To Maven Prep At 250 Cadman Plaza West In Brooklyn
LEASEDRetail

Cadman Towers Inc Leases Retail Space To Maven Prep At 250 Cadman Plaza West In Brooklyn

250 Cadman Plaza West

$50

$50/SF

Building Size

9,100 SF

Asset Type

Retail

Closing

Feb 27, 2025

AI

The property asset involved in this transaction is a retail space located at 250 Cadman Plaza West in Brooklyn. The lease agreement is structured with an asking rent of $50 per square foot for a total area of 9,100 square feet. The lease term is set for 10 years with a 5-year option, under a modified gross lease agreement.

Summary of transaction details:

EXR secured exclusive marketing rights to the retail listing through innovative pricing models and a proven track record in commercial leasing. The complexity of this listing, as it was formerly a synagogue and part of a Mitchell-Lama cooperative, required a strategic approach. EXR collaborated closely with ownership to create a lease that addressed the financial needs while being aligned with the cooperative board’s preference for a daycare operator, ultimately achieving satisfactory terms for all parties involved.

Players

Eliot Goldschmidt

Masonre

Broker

$17.3M

vol

11 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

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93