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1601 Surf Avenue

Kaberx Inc Leases Retail Space At 1601 Surf Avenue Coney Island From BFC Partners
LEASEDRetail

Kaberx Inc Leases Retail Space At 1601 Surf Avenue Coney Island From BFC Partners

1601 Surf Avenue

$38

$38/SF

Building Size

2,500 SF

Asset Type

Retail

Closing

Jul 26, 2024

AI

The property asset involved in this transaction is a retail space located at 1601 Surf Avenue in the Coney Island market. The leased space encompasses 2,500 square feet, with an asking rent set at $48 per square foot. The lease type is a Modified Gross Lease.

Summary of transaction details:

This transaction involved key representatives from Tri State Commercial Realty, specifically brokers Victor Safenia and Moshe Akiva, who facilitated the deal between the landlord, BFC Partners, and the tenant, Kaberx Inc.

Players

Moshe Akiva

Momentum Realty Group

Broker

$3.3M

vol

24 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

417447.37%

Cash-on-Cash

-119307.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93