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:
- Property Type: Retail
- Transaction Amount: $420,000
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Goose Property Management
- Tenant: Bandspaces
- Landlord's Representative: Victor Safenia & Moshe Akiva - Tri State Commercial Realty
- Tenant's Representative: Chandler Slate & Avi Akiva - Tri State Commercial Realty
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
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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