Tidal Real Estate Partners Leased Retail Space To Parched Hospitality Group In Brooklyn
66 Grand Street
$112
$112/SF
Building Size
2,150 SF
Asset Type
Retail
Closing
Jul 31, 2025
About this deal
AI
This retail asset is located at 66 Grand Street in Brooklyn. The property encompasses a total area of 2,150 square feet. The modified gross lease was negotiated at an asking rent of $112 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $112/ft
- Address: 66 Grand Street
- Market: Brooklyn
- Landlord: Tidal Real Estate Partners
- Tenant: Parched Hospitality Group
- Landlord's Representative: Hank O’Donnell
- Tenant's Representatives: Jordan Cohen, Garry Steinberg & Brett Brownstein - Lee & Associates
- Lease Type: Modified Gross Lease
The landlord, Tidal Real Estate Partners, is represented in this transaction by Hank O’Donnell. The tenant, Parched Hospitality Group, is represented by Jordan Cohen, Garry Steinberg, and Brett Brownstein from Lee & Associates.
Players
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
141633.93%
Cash-on-Cash
-40479.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93