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:
- Property Type: Retail
- Transaction Amount: $54,600
- Landlord: Phil Popowitz
- Landlord's Representative: Maurice Amar - Tri State Commercial Realty
- Tenant: Hey Flamer
- Tenant's Representative: Stephen Ligambi - Meridian Capital Group
- Lease Type: Retail Lease
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
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