Mjays Organic Market & More Signs 10 Year Lease At 462 Myrtle Avenue Brooklyn With Uchie Alozie
462 Myrtle Avenue
$156
$156/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Nov 2, 2025
AI
The property involved in this transaction is a retail space located at 462 Myrtle Avenue in Brooklyn, encompassing a total square footage of 1,000. The asking rent is set at $156 per square foot, with a lease term of 10 years under a single net lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $156/ft
- Address: 462 Myrtle Avenue
- Market: Brooklyn
- Lease Term: 10 Years
- Lease Type: Single Net Lease
- Landlord: Uchie Alozie
- Tenant: Mjays Organic Market & More
- Landlord's Representative: Nathan Shabot & Stephen Ligambi - Meridian Capital Group
- Tenant's Representative: Freddy Meytin - Tri State Commercial Realty
This transaction highlights the roles of key individuals in the leasing process: Nathan Shabot and Stephen Ligambi represent the landlord, while Freddy Meytin represents the tenant, ensuring a collaborative effort in finalizing the lease agreement.
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
101685.90%
Cash-on-Cash
-29062.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93