Ironstone Partners Leases Retail Space To Kona Coffee At 328 Nassau Avenue In Brooklyn
328 Nassau Avenue
$60
$60/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Aug 14, 2024
About this deal
AI
The retail asset located at 328 Nassau Avenue in Brooklyn has been leased. The property encompasses a total area of 2,000 square feet and was listed with an asking rent of $60 per square foot, structured under a NNN Lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $120,000
- Address: 328 Nassau Avenue
- Landlord: Ironstone Partners
- Tenant: Kona Coffee
- Brokers: John Le Vine & Joseph DiPiazza - EXR
- Date: 08/14/2024
John Le Vine and Joseph DiPiazza, representing EXR, facilitated the lease transaction. The deal signifies a successful agreement between the landlord, Ironstone Partners, and tenant, Kona Coffee, marking their operational presence in Brooklyn.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93