Ben-Josef Group Holdings Leases Retail Space To District Taco At 531 Myrtle Avenue In Brooklyn
531 Myrtle Avenue
$120
$120/SF
Building Size
2,100 SF
Asset Type
Retail
Closing
May 31, 2025
AI
The asset involved in this lease transaction is a retail property located at 531 Myrtle Avenue in the Brooklyn market. The asking rent for this property is $120 per square foot, with a total square footage of 2,100. This lease is classified as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $120/ft
- Address: 531 Myrtle Avenue
- Market: Brooklyn
- Lease Type: Modified Gross Lease
- Landlord: Ben-Josef Group Holdings
- Tenant: Distric Taco
- Landlord's Representative: Meyer Dagmy, Isaac Bijou & Eddie Mamiye - MOD
- Tenant's Representatives: Stephan Miller & Jerry Welkis - Welco Realty
The transaction was facilitated by Ben-Josef Group Holdings as the landlord and Distric Taco as the tenant. The representatives for the landlord included Meyer Dagmy, Isaac Bijou, and Eddie Mamiye from MOD, while the tenant was represented by Stephan Miller and Jerry Welkis from Welco Realty.
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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93