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462 Myrtle Avenue

Mjays Organic Market & More Signs 10 Year Lease At 462 Myrtle Avenue Brooklyn With Uchie Alozie
LEASEDRetail

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 asset involved in this transaction is a retail space located at 462 Myrtle Avenue in Brooklyn. The lease is for a space of 1,000 square feet with an asking rent of $156 per square foot. The lease term spans 10 years and is categorized as a single net lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $156/ft
  • Square Footage: 1,000
  • Address: 462 Myrtle Avenue
  • Market: Brooklyn
  • 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
  • Lease Term: 10 Years
  • Lease Type: Single Net Lease

The transaction features representation from Nathan Shabot and Stephen Ligambi, who represent the landlord, while Freddy Meytin acts as the representative for the tenant. Their involvement facilitates the agreement between Uchie Alozie and Mjays Organic Market & More, ensuring the successful lease of the retail space.

Players

Stephen Ligambi

Meridian Capital Group

Broker

31 deals

Broker
Tri State Commercial Realty
Tri State Commercial RealtyBrokerage

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