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440 Van Brunt Street

Dennis Schröder Leases Six-Bedroom Home In Red Hook For $40,000 A Month With Option To Buy
LEASEDSingle Family

Dennis Schröder Leases Six-Bedroom Home In Red Hook For $40,000 A Month With Option To Buy

$40,000

Building Size

Asset Type

Single Family

Closing

Sep 27, 2024

AI

The property involved in this transaction is a six-bedroom single-family home located in Red Hook, Brooklyn. The asking rent for this residence is $40,000 per month. The home is solar-powered and includes amenities such as a private garage, pool, and terrace. There is also an option to buy the property for $14 million, which would set a neighborhood record.

Summary of transaction details:

Key individuals in this transaction include NBA player Dennis Schröder, who is renting the property as he aims to establish himself as a veteran leader for the Brooklyn Nets. The brokers facilitating this transaction are Eric Sidman and Terrence Harding from Compass.

Players

Eric Sidman

Broker

$10.6M

vol

3 deals

Broker

Brooklyn Single Family Market Snapshot

Boundary boundary · Single Family · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

396.57%

Cash-on-Cash

-113.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93