Joel Fried Leases Retail Space To Lambda Lounge At 706 Nostrand Avenue Brooklyn For $70/ft
706 Nostrand Avenue
$70
$70/SF
Building Size
3,000 SF
Asset Type
Retail
Closing
Oct 16, 2026
About this deal
AI
The property asset involved in this transaction is a retail space located at 706 Nostrand Avenue in Brooklyn. The asset is leased for a duration of 5 years under a Modified Gross Lease, with an asking rent of $70 per square foot. The total square footage of the leased space is 3,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $210,000
- Lease Term: 5 Years
- Lease Type: Modified Gross Lease
- Landlord: Joel Fried
- Tenant: Lambda Lounge
- Broker: Eddie Keda - Momentum Realty Group
In this transaction, Eddie Keda represents Momentum Realty Group as the broker facilitating the lease between the landlord, Joel Fried, and the tenant, Lambda Lounge, ensuring that all parties involved are effectively managed during the leasing process.
On the Map
$70
$70/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93