Vinnie Arthur Leases Land To Benjamin Edward & Samuel Smith For 25-Year Term In Brooklyn

The asset involved in this transaction is a land lease located at 5502 Flatlands Avenue and 15-18 Decatur Street, situated in the Brooklyn and Ridgewood market. The asking rent for the property is $15 per square foot, encompassing a total of 33,226 square feet. The lease term has been established for 25 years under a NNN lease structure.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $15/ft
• Address: 5502 Flatlands Avenue & 15-18 Decatur Street
• Market: Brooklyn & Ridgewood
• Landlord: Vinnie Arthur
• Tenant: Benjamin Edward & Samuel Smith
• Broker: Nathan Horne - Compass
• Lease Term: 25 Years
• Lease Type: NNN Lease
• Square Footage: 33,226

Nathan Horne from Compass represents the landlord and has facilitated this transaction, highlighting the use of Battery Energy Storage Systems (BESS) in land leasing strategies. The potential for longer lease terms and tenant-funded infrastructure presents significant advantages for property owners, whilst also outlining the challenges associated with initial project feasibility and interconnection studies.