Oak Fitness Inc Signs 60-Year Lease At 65 4th Avenue In Boreum Hill Brooklyn

The asset involved in this transaction is a retail property located at 65 4th Avenue in Boreum Hill, Brooklyn. The space encompasses 1,400 square feet and has an asking rent of $94 per square foot. This lease is a modified gross lease with a term of 60 years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $94/ft
• Lease Term: 60 Years
• Lease Type: Modified Gross Lease
• Landlord: Bedford Enterprises
• Tenant: Oak Fitness Inc
• Landlord's Representative: Joey Sakkal & Joseph Bouzaglou - Tri State Commercial Realty
• Tenant's Representative: Matt Hopkins - Acona Real Estate

The key individuals involved in this transaction include Joey Sakkal and Joseph Bouzaglou, representing the landlord, and Matt Hopkins, who represents the tenant. Each played a significant role in facilitating this long-term leasing agreement.