REUNION BATHHOUSE LLC Leases Industrial Space At 272 Seigel Street In Brooklyn For $45/ft

The transaction involves an industrial property located at 272 Seigel Street, Brooklyn, with a square footage of 7,611. The asking rent for the property is $45 per square foot. The lease agreement is set for a duration of 10 years under a Single Net Lease structure.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $45/ft
• Lease Term: 10 Years
• Lease Type: Single Net Lease
• Landlord: Rachel Reichman
• Tenant: Matt Filbert
• Brokers: Eitan Hakami - Greiner-Maltz Real Estate & Michael Pinney - Signature Partners

REUNION BATHHOUSE LLC intends to utilize this industrial property in North Bushwick to develop a unique Bath house wellness center, which will include features such as a Russian-style banya, Nordic electric sauna, steam room, cold plunge pool, community lounge, wellness café, and a yoga and movement classroom. The collaboration between the brokers, Eitan Hakami representing the landlord and Michael Pinney representing the tenant, was critical in navigating the complexities of this lease agreement.