Edward Ostad & Michael Ostad Lease Mixed-use Property To Nova Pizza For 10 Years At 1739 2nd Avenue

The property involved in this transaction is a mixed-use building located at 1739 2nd Avenue in the Upper East Side market. The asset includes 2 commercial spaces and 8 residential units, with a leasing arrangement that stipulates an asking rent of $160 per square foot for a total area of 1,500 square feet. The lease term is set for 10 years under a retail lease agreement.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $240,000
• Address: 1739 2nd Avenue
• Market: Upper East Side
• Landlord: Edward Ostad & Michael Ostad
• Tenant: Nova Pizza
• Lease Term: 10 Years
• Lease Type: Retail Lease

The deal was facilitated by Edward Ostad and Michael Ostad representing the landlord, while Nova Pizza is the tenant entering into the lease agreement. The stakeholders involved in this transaction highlight the collaborative efforts in securing a retail space within this area.