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6097 Myrtle Avenue

Beautebar Signs 10-Year Lease For Mixed-Use Space At 6097 Myrtle Ave. In Ridgewood, Queens
LEASEDMixed-use

Beautebar Signs 10-Year Lease For Mixed-Use Space At 6097 Myrtle Ave. In Ridgewood, Queens

6097 Myrtle Avenue

$27

$27/SF

Building Size

4,000 SF

Asset Type

Mixed-use

Closing

Jan 1, 2024

AI

The mixed-use property located at 6097 Myrtle Ave in Ridgewood, Queens has been leased. The property spans approximately 4,000 square feet and has recently been leased by Beautebar. The lease term is for 10 years with a modified gross lease. The asking rent for the space was $27 per square foot.

Summary of transaction details:

Daniel Barcelowsky from Evergreen Realty & Investments represented the landlord, Kenny Cheung, in the lease transaction, while Justin Losh from Counter represented the tenant, Beautebar. Both parties reached an agreement on the lease terms that span a period of 10 years.

Players

Daniel Barcelowsky

Evergreen Realty & Investments

Broker

$83.9M

vol

52 deals

Broker

Ridgewood Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

587518.52%

Cash-on-Cash

-167914.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93