Oculus 20/20 Leases Retail Space At 319 Court Street In Carroll Gardens For 10 Years

The property asset involved in the transaction is a retail space located at 319 Court Street in the Carroll Gardens market of Brooklyn. The lease is for a tenant known as Oculus 20/20, with an asking rent of $87 per square foot for a total of 900 square feet. This transaction is structured as a 10-year modified gross lease.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $87/ft
• Square Footage: 900
• Address: 319 Court Street
• Market: Carroll Gardens, Brooklyn
• Lease Term: 10 Years
• Lease Type: Modified Gross Lease
• Tenant: Oculus 20/20
• Brokers: Brandon Efap & Joseph Sobolov - Investment Property Realty Group

The deal features the representation of the tenant by brokers Brandon Efap and Joseph Sobolov, who are part of Investment Property Realty Group. Key aspects of the negotiation included achieving the optimal market price during the transaction and facilitating the relocation of a well-established neighborhood operator. Additionally, arrangements were made to secure tenancy before the completion of construction.