ModernMD Leases Retail Space In Ridgewood, Queens
67-21 Fresh Pond Rd, Flushing, NY, USA
Building Size
3,700 SF
Asset Type
Retail
Closing
Jun 1, 2020
About this deal
AI
ModernMD, a retail tenant, has entered into a lease agreement for a property located at 67-21 Fresh Pond Rd in the Ridgewood market of Queens. The property is a retail asset with a total square footage of 3,700, consisting of 2,300 square feet on the ground floor and 1,400 square feet in the basement. The lease was signed on June 1, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Date: 06/01/2021
- Address: 67-21 Fresh Pond Rd
- Market: Ridgewood, Queens
- Tenant: ModernMD
- Landlord: Rahul Suri
- Brokers: Michelle Abramov & Joseph Mastov (ssetCRG)
- Asking Rent: $74/ft
- Square Footage: 3,700
In this lease transaction, Michelle Abramov and Joseph Mastov of ssetCRG represented the tenant, ModernMD, in the deal. They negotiated the leasing terms on behalf of ModernMD, ensuring a successful outcome for both parties involved.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93