The Sleep Loft Signs Retail Lease At 888 Manhattan Avenue In Greenpoint Brooklyn With John Le Vine & Joseph DiPiazza As Landlord's Representatives
888 Manhattan Avenue
$84
Building Size
—
Asset Type
Retail
Closing
Sep 19, 2024
AI
The property asset involved in this transaction is a retail lease located at 888 Manhattan Avenue in Greenpoint, Brooklyn. The asking rent for the 2,000 square feet of space is $84 per foot.
Summary of transaction details:
- Property Type: Retail Lease
- Transaction Amount: $168,000
- Landlord: Piotr Was
- Tenant: The Sleep Loft
- Landlord's Representative: John Le Vine & Joseph DiPiazza - EXR
- Tenant's Representative: Jordan Langer - Meridian Capital Group
This transaction showcases the collaborative efforts of both parties' representatives, with John Le Vine and Joseph DiPiazza acting on behalf of the landlord and Jordan Langer representing the tenant in this lease agreement.
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
188845.24%
Cash-on-Cash
-53972.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93