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
About this deal
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.
On the Map
$43
$43/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
368906.98%
Cash-on-Cash
-105434.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93