
Brooklyn, NY According to Verada , So Gold Studios signed a 10-year lease for 1,200 s/f relocating to 448 Humboldt St., just two blocks from their current home. The landlord, Investmates, is a local boutique development company.
For eighteen years, professional Cassi Lopez-March has run So Gold Studios, where she has provided expert body piercing techniques. The new 1,200 s/f shop will provide consumers with service and care. So Gold Studios opted to secure a long-term lease for the property at an asking rent of $90 per s/f and will continue to be a fixture of the community.
Investmates is a privately-held real estate investment and development company headquartered in Williamsburg. Since its inception, Investmates has leveraged their vision of architectural excellence to meet the growing need for distinguished residential properties in New York City, including 18 ground-up buildings in the immediate vicinity.
Brendan Thrapp, the managing partner of Verada, who acted in dual agency and brokered the transaction, said, "We are happy to welcome So Gold Studios to their new location. We believe it’s a great fit for the neighborhood, asset, and tenant for a long time to come."
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,