Jack Terzi Of JTRE Holdings Leases Retail Space To Altitude NY At 807 Manhattan Avenue
807 Manhattan Avenue
$1,200,000
$1,200,000/SF
Building Size
12,000 SF
Asset Type
Retail
Closing
Oct 31, 2025
AI
The property asset involved in this transaction is a retail space located at 807 Manhattan Avenue in Brooklyn. The property features a total square footage of 12,000 and was leased under a NNN Lease for a period of 10 years. The asking rent for this asset is set at $110 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $110/ft
- Lease Term: 10 Years
- Lease Type: NNN Lease
- Landlord: Jack Terzi - JTRE Holdings
- Tenant: Altitude NY – Licensed Legal Dispensary
Key individuals in this transaction include Jack Terzi, representing JTRE Holdings as the landlord, and Altitude NY, which is the tenant, operating as a licensed legal dispensary in this retail space. Their involvement establishes the key parties behind this leasing agreement.
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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93