Richard Pogostin Leases Retail Space To Twisted Spine Books At 306 Grand Street In Brooklyn
306 Grand Street
$43
$43/SF
Building Size
2,200 SF
Asset Type
Retail
Closing
Apr 30, 2025
AI
The property asset involved in this transaction is a retail space located at 306 Grand Street in Brooklyn. It spans a total of 1,500 square feet and the asking rent is set at $65 per square foot. The lease type for this agreement is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $97,500
- Address: 306 Grand Street
- Market: Brooklyn
- Landlord: Richard Pogostin
- Tenant: Twisted Spine Books
- Brokers: Kevin Bisconti & Stephen Ligambi - Meridian Capital Group
The transaction was facilitated by brokers Kevin Bisconti and Stephen Ligambi from Meridian Capital Group, representing the landlord and tenant in this agreement.
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
368906.98%
Cash-on-Cash
-105434.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93