Bobby Sazan Leases Multifamily Asset At 1720 Mermaid Avenue To Mermaid 420 LLC For $36/SF

The property asset involved in this transaction is a multifamily building located at 1720 Mermaid Avenue in Brooklyn. The lease was signed at a rate of $36 per square foot for a total area of 1,000 square feet. The lease agreement is structured as a modified gross lease with a term of 5 years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $36/ft
• Address: 1720 Mermaid Avenue
• Market: Brooklyn
• Landlord: Bobby Sazan
• Tenant: Mermaid 420 LLC
• Landlord's Representative: Brian Ainehsazan & Itai Khalili - Aineh Property Group
• Lease Term: 5 Years
• Lease Type: Modified Gross Lease

Brian Ainehsazan and Itai Khalili, representing Bobby Sazan, facilitated this lease transaction to Mermaid 420 LLC. Aineh Property Group is actively managing the leasing process and has announced an additional available opportunity at 1610 Mermaid Avenue, which features an existing hood suitable for restaurant or food-related businesses.