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:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1251 Coney Island Avenue
- Market: Brooklyn
- Square Feet: 2300.0
- Tenant: Chested of Flatbush
- Landlord: Shea Hecht-1251 Coney Island Avenue Realty
- Tenant's Rep: Chaim Zagelbaum (Augenbaum Realty)
- Landlord's Reps: Mendel Sears (Tri State Commercial Realty), Mendel Jacobson (Tri State Commercial Realty)
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
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