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:
- Property Type: Mixed-use
- Transaction Amount: Not applicable (lease)
- Address: 6097 Myrtle Ave, Ridgewood, Queens
- Tenant: Beautebar
- Tenant's Representative: Justin Losh - Counter
- Landlord: Kenny Cheung
- Landlord's Representative: Daniel Barcelowsky - Evergreen Realty & Investments
- Market: Ridgewood, Queens
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
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