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1290-1294 Fulton Street

375 Chicken 'N Fries Signs Long-Term Lease In Bed-Stuy Brooklyn For Retail Space
LEASEDRetail

375 Chicken 'N Fries Signs Long-Term Lease In Bed-Stuy Brooklyn For Retail Space

1290-1294 Fulton Street

$84

$84/SF

Building Size

2,139 SF

Asset Type

Retail

Closing

Feb 15, 2024

AI

Located at 1290-1294 Fulton Street in Bed-Stuy, the retail property involved in this transaction spans 2,139 square feet. The lease was signed by the tenant, 375 Chicken 'N Fries, with an asking rent of $84 per square foot under a Modified Gross Lease agreement.

Summary of transaction details:

Baruch Edelkopf and Steven Hakakian of Schuckman Realty represented the landlord, Joel Jacobs, in this lease transaction. On the tenant's side, Aric Trakhtenberg from Newmark acted as the representative for 375 Chicken 'N Fries. The deal secured a long-term agreement for the tenant at a strategic location in Bed-Stuy Brooklyn, specifically at the intersection of Fulton Street and Nostrand Avenue.

Players

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

51 deals

Broker

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

188845.24%

Cash-on-Cash

-53972.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93