- Represented seller
- Development site
488 4th Ave, Brooklyn, NY 11215
Additional Information
City | Brooklyn |
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Broker | Mark Akilov, Yuriy Ustoyev |
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City | Brooklyn |
---|---|
Broker | Mark Akilov, Yuriy Ustoyev |
Details: AssetCRG handled this sale transaction in which the building owner needed a quick sale in a timely and professional matter. AssetCRG represented the purchaser, a developer, who saw the analyzed value and potential and engaged in a quick all-cash transaction. The building is roughly 35,000 square feet. AssetCRG subsequently leased the building to two national tenants: Children of America and Retro Fitness.
Remarks at Closing:
– Closed for 5.1% CAP
– AT&T has been a tenant for 15 years
– Recently completed a 10-year term and 5-year option ending in Dec. 2017 & has renewed early and requested (2) 3-year extensions on existing renewals
– Tenant has done a complete interior renovation and is strongly committed to the site
– High traffic busy corner location, many national retailers located nearby, out-parcel to a larger center
– Landlord pays taxes/CAM and 100% reimbursed by tenant. LL responsible for roof/structure
Our strong relationships with national retailers & office tenants, the broader real estate community, brokers, contractors, architects, engineers, attorneys, and local municipalities offer significant benefits to property owners. We're proud to provide the most comprehensive investment sales, leasing, and property management services across Metropolitan New York and Long Island.
215-15 Northern Boulevard, 3rd FloorBayside, NY 11361
Phone: 646.586.2091
Fax: 646.767.6790
Email: info@34.82.249.66
Web: www.assetcrg.com