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1465 Myrtle Avenue

Phil Popowitz Of Spark RE Management Leases Retail Space To Hey Flamer In Brooklyn For $26/ft
LEASEDRetail

Phil Popowitz Of Spark RE Management Leases Retail Space To Hey Flamer In Brooklyn For $26/ft

1465 Myrtle Avenue

$26

$26/SF

Building Size

2,100 SF

Asset Type

Retail

Closing

Aug 9, 2024

AI

The property involved in the transaction is a retail space located at 1465 Myrtle Avenue on the 3rd Floor in Brooklyn. The total square footage is 2,100, with an asking rent of $26 per square foot.

Summary of transaction details:

This transaction features key representatives who facilitated the deal. Phil Popowitz, representing Spark RE Management, was the landlord, while Hey Flamer was the tenant. Maurice Amar served as the landlord's representative through Tri State Commercial Realty, and Stephen Ligambi represented the tenant via Meridian Capital Group.

Players

Joseph Bouzaglou

Tri State Commercial Realty

Broker

10 deals

Broker

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

610115.38%

Cash-on-Cash

-174372.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93