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329 Wyckoff Street

Morris Tobias Brokers Retail Lease Deal In Brooklyn For Selective Essential
LEASEDRetail

Morris Tobias Brokers Retail Lease Deal In Brooklyn For Selective Essential

329 Wyckoff Street

$125

$125/SF

Building Size

1,050 SF

Asset Type

Retail

Closing

May 5, 2024

AI

The property at 329 Wyckoff Street in Brooklyn, recently leased, is a retail space spanning 1,050 square feet. The transaction was facilitated by Morris Tobias from BH Realty, representing the landlord, Stanley Chera, and the tenant, Selective Essential. The lease was signed at an asking rent of $125 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Address: 329 Wyckoff Street
  • Market: Brooklyn
  • Landlord: Stanley Chera
  • Tenant: Selective Essential
  • Broker: Morris Tobias - BH Realty
  • Asking Rent: $125/ft.
  • Square Footage: 1,050

Morris Tobias from BH Realty played a key role as the broker in this transaction, effectively representing both the landlord, Stanley Chera, and the tenant, Selective Essential. The successful lease agreement highlights the importance of having a skilled and experienced broker to facilitate real estate deals in the competitive Brooklyn market.

Players

Morris Tobias

Monday Morning MGMT

Broker

21 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

126904.00%

Cash-on-Cash

-36269.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93