Phil Popowitz Leases Retail Space At 1420 Nostrand Avenue To Hibachi Wings For $55/ft
1420 Nostrand Avenue
$55
$55/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Aug 31, 2026
About this deal
AI
The asset involved in the transaction is a retail property located at 1420 Nostrand Avenue in Brooklyn. The lease was agreed upon at an asking rent of $55 per square foot for a total area of 1,100 square feet. The lease term is set for 8 years under a modified gross lease agreement.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $55/ft
- Lease Term: 8 Years
- Landlord: Phil Popowitz
- Tenant: Hibachi Wings
- Landlord's Representative: Maurice Amar - Tri State Commercial Realty
- Tenant's Representative: Jovan Sameyah - Tri State Commercial Realty
Key individuals involved in this transaction include Phil Popowitz as the landlord and Hibachi Wings as the tenant. Maurice Amar and Jovan Sameyah both represented their respective parties through Tri State Commercial Realty, ensuring the lease agreement was successfully facilitated.
On the Map
$55
$55/SF
Retail
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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
288418.18%
Cash-on-Cash
-82430.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93