Koptiev Family Leases 2,000 SF Commercial Space To Impact Group Fitness At 501 Smith Street

The property involved in this transaction is a commercial asset located at 501 Smith Street in the Brooklyn market. The lease is for a total square footage of 2,000, with an asking rent of $50 per square foot. The lease term agreed upon is 10 years, and it is classified as a Modified Gross Lease.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $100,000
• Landlord: Koptiev Family
• Tenant: Impact Group Fitness
• Brokers: Justin Kamali, Jon Kamali & Jeremy Kamali - J3K Real Estate
• Attorney: Joseph Rabanipour, Esq. - Law Offices of Joseph Rabanipour, PLLC.
• Lease Term: 10 Years

J3K Real Estate successfully represented both the landlord, Koptiev Family, and the tenant, Impact Group Fitness, in finalizing this lease transaction. Impact Group Fitness is aiming to broaden its footprint in New York, targeting additional locations in Greenpoint, FiDi, West Harlem, and Long Island City.