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280 Ashland Place

Mito Asian Fusion Leases Retail Space At 280 Ashland Place From Jonathan Rose Companies In Brooklyn
LEASEDRetail

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:

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

Richard Bailey

RJBRE

Broker

14 deals

Broker

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