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
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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