Domenick Gioia Of Stellar Management Leases Retail Space To Thundercat Pediatric Dentistry In Brooklyn
211 Mcguinness Boulevard
$50
$50/SF
Building Size
2,396 SF
Asset Type
Retail
Closing
Oct 10, 2024
AI
The property involved in this transaction is a retail asset located at 211 McGuinness Boulevard in Brooklyn. It features a total square footage of 2,396 and operates under a Modified Gross Lease arrangement. The asking rent for this property was set at $50 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $119,800
- Landlord: Domenick Gioia - Stellar Management
- Tenant: Thundercat Pediatric Dentistry
- Landlord's Representative: James Famularo & Jordan Langer - Meridian Capital Group
- Tenant's Representative: Derek Ritter & Robb Day - SQ/FT Brokerage
- Lease Type: Modified Gross Lease
The transaction saw representation from James Famularo and Jordan Langer of Meridian Capital Group for the landlord, while the tenant's interests were represented by Derek Ritter and Robb Day from SQ/FT Brokerage. The lease date was recorded as October 10, 2024.
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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93