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55 05 Myrtle Avenue

Spear Physical Therapy Leases Retail Space At 55-05 Myrtle Avenue From Shaul Sakhai
LEASEDRetail

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

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:

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.

Players

George Skaliarinis

Kassin Sabbagh Realty

Broker

$7M

vol

53 deals

Broker

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