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:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 1290-1294 Fulton Street
- Market: Bed-Stuy
- Landlord: Joel Jacobs
- Tenant: 375 Chicken 'N Fries
- Landlord's Rep: Baruch Edelkopf & Steven Hakakian - Schuckman Realty
- Tenant's Rep: Aric Trakhtenberg - Newmark
- Asking Rent: $84/ft
- Lease Type: Modified Gross Lease
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
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