EXR Leases Bushwick Retail Space To The Concrete Jungle For Above-Market Rate

A retail space located at 13 Jefferson St. in Bushwick has been leased. The property, consisting of 1,700 square feet, is situated at the base of a small residential new development.

Summary of transaction details:

• Property Type: Retail
• Transaction Date: 03/03/2022
• Market: Bushwick

The landlord, Numi Acquisitions represented by Moses Neuman, leased the retail space to The Concrete Jungle. The deal was facilitated by brokers John Le Vine and Stephen Forino of EXR.

The asking rent for the space was $45 per square foot. In order to close the lease, EXR worked with the landlord and architect to develop a subdivision plan for the retail space, which initially lacked a logical division. This solution allowed the deal to go through, enabling the landlord to achieve their proforma in a timely manner.