Spear Physical Therapy Leases Retail Space At 55-05 Myrtle Avenue From Shaul Sakhai
55 05 Myrtle Avenue
$90
$90/SF
Building Size
3,000 SF
Asset Type
Retail
Closing
Apr 10, 2025
About this deal
AI
The property involved in this transaction is a retail asset located at 55-05 Myrtle Avenue in Ridgewood. It has a square footage of 3,000 and was leased at an asking rent of $90 per square foot.
Summary of transaction details:
- Property Type: Retail Lease
- Transaction Amount: $270,000
- Landlord: Shaul Sakhai
- Tenant: Spear Physical Therapy
- Landlord's Representative: George Skaliarinis & Mark Gallucci - KSR
- Tenant's Representative: Evan Clements & Austin Knief - Atlantic Retail
This transaction showcases the collaboration among various representatives, with George Skaliarinis and Mark Gallucci representing the landlord, while the tenant's interests were represented by Evan Clements and Austin Knief. This lease reflects a strategic partnership focused on establishing a physical therapy location in the Ridgewood market.
On the Map
$90
$90/SF
Retail
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Players
Ridgewood 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
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93