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597 Grand Street

Goose Property Management Leases Retail Space To Bandspaces At 597 Grand Street Brooklyn
LEASEDRetail

Goose Property Management Leases Retail Space To Bandspaces At 597 Grand Street Brooklyn

597 Grand Street

$40

$40/SF

Building Size

10,500 SF

Asset Type

Retail

Closing

Apr 24, 2025

AI

The asset is located at 597 Grand Street in Brooklyn, categorized as retail. The lease was signed for a total area of 10,500 square feet with an asking rent of $40 per square foot. The lease term spans 10 years, structured as a modified gross lease.

Summary of transaction details:

Victor Safenia and Moshe Akiva represented Goose Property Management, while Chandler Slate and Avi Akiva represented Bandspaces in the transaction, ensuring that both parties' interests were effectively advocated throughout the leasing process.

Players

Chandler Slate

Tri State Commercial Realty

Broker

$10.7M

vol

33 deals

Broker
GM
Goose Property ManagementLandlord

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

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93