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623 Linden Boulevard

Signature Management Leases Retail Space To High Definition Kids Daycare Center On Linden Boulevard
LEASEDRetail

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

Moshe Akiva

Momentum Realty Group

Broker

$3.3M

vol

24 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

352511.11%

Cash-on-Cash

-100748.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93