Cadman Towers Inc Leases Retail Space To Maven Prep At 250 Cadman Plaza West In Brooklyn

The property asset involved in this transaction is a retail space located at 250 Cadman Plaza West in Brooklyn. The lease agreement is structured with an asking rent of $50 per square foot for a total area of 9,100 square feet. The lease term is set for 10 years with a 5-year option, under a modified gross lease agreement.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $50/ft
• Lease Term: 10 Years, 5 Year Option
• Lease Type: Modified Gross Lease
• Landlord: Cadman Towers Inc
• Tenant: Maven Prep
• Landlord's Representative: Joseph DiPiazza & John Le Vine - EXR
• Tenant's Representative: Eliot Goldschmidt & David Abrams - Masonre
• Market: Brooklyn

EXR secured exclusive marketing rights to the retail listing through innovative pricing models and a proven track record in commercial leasing. The complexity of this listing, as it was formerly a synagogue and part of a Mitchell-Lama cooperative, required a strategic approach. EXR collaborated closely with ownership to create a lease that addressed the financial needs while being aligned with the cooperative board’s preference for a daycare operator, ultimately achieving satisfactory terms for all parties involved.