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:
- Property Type: Retail
- Transaction Amount: $48/ft
- Address: 1601 Surf Avenue
- Market: Coney Island
- Landlord: BFC Partners
- Tenant: Kaberx Inc
- Square Footage: 2,500
- Brokers: Victor Safenia & Moshe Akiva - Tri State Commercial Realty
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
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