Mito Asian Fusion Leases Retail Space At 280 Ashland Place From Jonathan Rose Companies In Brooklyn
280 Ashland Place
$125
$125/SF
Building Size
2,387 SF
Asset Type
Retail
Closing
Dec 1, 2024
About this deal
AI
The retail property located at 280 Ashland Place in Brooklyn features a lease with an asking rent of $125 per square foot, encompassing a total of 2,387 square feet. This location is poised to benefit from its placement in a vibrant market known for its bustling dining scene.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $125/ft
- Lease Term: 15 years
- Landlord: Jonathan Rose Companies
- Tenant: Mito Asian Fusion
- Landlord's Representative: Alan Schmerzler, Mitzi Flexer & Catherine Merck - Cushman & Wakefield
- Tenant's Representative: Richard Bailey & Steven Shamula - RJBRE
- Square Footage: 2,387
The transaction involved multiple representatives where Alan Schmerzler, Mitzi Flexer, and Catherine Merck represented the landlord, while Richard Bailey and Steven Shamula represented the tenant. A note from the tenant's representative highlights their enthusiasm about Mito Asian Fusion's new opening in Fort Greene and encourages potential opportunities to connect via email.
On the Map
$125
$125/SF
Retail
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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
126904.00%
Cash-on-Cash
-36269.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93