Signature Management Leases Retail Space To High Definition Kids Daycare Center On Linden Boulevard
623 Linden Boulevard
$45
$45/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
Feb 1, 2025
AI
The property involved in this transaction is a retail asset located at 623 Linden Boulevard in Brooklyn. The asking rent is set at $45 per square foot for a total area of 6,000 square feet. The lease agreement has a term length of 10 years and is classified as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $45/ft
- Square Footage: 6,000
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Signature Management
- Tenant: High Definition Kids Daycare Center
- Landlord's Representative: Moshe Akiva - Tri State Commercial Realty
- Tenant's Representative: Victor Safenia - Tri State Commercial Realty
This transaction involved key individuals from Tri State Commercial Realty, with Moshe Akiva representing the landlord, Signature Management, while Victor Safenia represented the tenant, High Definition Kids Daycare Center. Their roles were crucial in facilitating this lease agreement in the Brooklyn market.
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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93