The retail property located at 379 Jefferson Street in Bushwick, Brooklyn, was leased to Wyckoff Convenience. The lease agreement was for a 250 square foot ground floor retail space at an asking rent of $432 per square foot, totaling $108,000 annually. The long-term lease spanned 10 years, marking a significant increase from the previous record lease rate of $125 per square foot in the area.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $108,000 annually
• Landlord: Walter Graur - WM 379 Realty
• Tenant: Wyckoff Convenience
• Broker: Max Lu - M2 CRE
• Lease Type: Retail Lease
• Lease Term: 10 years

The deal was facilitated by Max Lu from M2 CRE, a brokerage specializing in retail leasing and seller services in North Brooklyn. The property was leased to Bushwick-based operators who have successfully expanded their businesses in the neighborhood. M2 CRE, with over 17 years of experience, managed to secure a lease that outperformed previous records in Bushwick, demonstrating their expertise in the local market.