Double U Realty Leases Retail Space To Skyzone At 29 Wythe Avenue Brooklyn For $60/ft
29 Wythe Avenue
Building Size
29,295 SF
Asset Type
Retail
Closing
Feb 1, 2025
About this deal
AI
The asset involved in this lease transaction is a retail property located at 29 Wythe Avenue in Brooklyn. The total square footage of the property is 29,295 square feet, with an asking rent of $60 per square foot. The lease type is classified as a Single Net Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $60/ft
- Landlord: Double U Realty
- Tenant: Skyzone
- Landlord's Representative: Fritz Kemerling - AMP Solutions
- Tenant's Representative: William Cafero - Charter Realty
The transaction highlights the role of Fritz Kemerling representing Double U Realty and William Cafero representing Skyzone. Their involvement was crucial in facilitating this leasing arrangement for the retail space.
On the Map
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93