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1251 Coney Island Avenue

Chested Of Flatbush Leases Retail Space At 1251 Coney Island Avenue In Brooklyn For $50/SF
LEASEDRetail

Chested Of Flatbush Leases Retail Space At 1251 Coney Island Avenue In Brooklyn For $50/SF

1251 Coney Island Avenue

$50

$50/SF

Building Size

2,300 SF

Asset Type

Retail

Closing

Mar 18, 2025

AI

The property asset involved in this transaction is a retail space located at 1251 Coney Island Avenue in the Brooklyn market. The leased space measures 2,300 square feet and commands a rent of $50 per square foot.

Summary of transaction details:

This transaction involves prominent representatives such as Chaim Zagelbaum from Augenbaum Realty advocating for the tenant, while Mendel Sears and Mendel Jacobson from Tri State Commercial Realty represent the landlord in this leasing deal.

Players

Mendel Jacobson

Tri State Commercial Realty

Broker

$6.3M

vol

6 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