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
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.
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