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Met Fresh Signs Ground Lease For Retail Space At 6709 Fresh Pond Road In Ridgewood

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LEASED
$65
Marc Sitt
Dorel Melloul
+ 2

New York

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Retail14,000 SF
Leased 09/19/2023
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Property Image
LEASED

Met Fresh Signs Ground Lease For Retail Space At 6709 Fresh Pond Road In Ridgewood

67-09 Fresh Pond Road

See Similar Deals
Retail14,000 SF
Leased 09/19/2023
Marc Sitt
Dorel Melloul
+ 2
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$65
Total Square Footage:14,000 SF
Transaction Type:Lease

An agreement has been reached for a ground lease of a retail property located at 6709 Fresh Pond Road in the Ridgewood market. The property spans approximately 14,000 square feet and was leased by Tenny Yam of YYY Realty to the tenant, Met Fresh. The landlord was represented by Dorel Melloul and Marc Sitt from KSR, while Nathaniel Mallon, Brendan Thrapp, and Julia Zoraian from Verada Retail acted as the tenant's representatives. The asking rent for the property was $65 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not available
  • Address: 6709 Fresh Pond Road
  • Market: Ridgewood
  • Landlord: Tenny Yam - YYY Realty
  • Tenant: Met Fresh
  • Landlord's Representatives: Dorel Melloul & Marc Sitt - KSR
  • Tenant's Representatives: Nathaniel Mallon, Brendan Thrapp & Julia Zoraian - Verada Retail
  • Asking Rent: $65/ft
  • Square Footage: 14,000
  • Lease Type: Ground Lease

The deal involved several key individuals and companies. Tenny Yam of YYY Realty served as the landlord, while Dorel Melloul and Marc Sitt represented the landlord's interests on behalf of KSR. On the tenant's side, Met Fresh secured the lease agreement, with Nathaniel Mallon, Brendan Thrapp, and Julia Zoraian from Verada Retail acting as their representatives. This transaction highlights the collaboration between these parties in achieving a successful ground lease agreement.

Players

Marc Sitt
64 deals$272.9M volume(917) 757-8863
BROKER

Nathaniel (Nate) Mallon
Verada
24 deals$9.8M volume(860) 416-7288
BROKER

Brendan Thrapp
19 deals$7.7M volume(201) 787-9679
BROKER

Dorel Melloul
Kassin Sabbagh Realty
32 deals$4.8M volume
BROKER

Details

LEASED
IMAGE: Nathaniel Mallon, Dorel Melloul, Brendan Thrapp, Marc Sitt & Julia Zoraian DATE: 09/19/2023 ADDRESS: 6709 Fresh Pond Road MARKET: Ridgewood ASSET TYPE: Retail LANDLORD: Tenny Yam - YYY Realty TENANT: Met Fresh LANDLORD'S REP: Dorel Melloul (@JewAndTheCity) & Marc Sitt (@Retail.Marc) - KSR (@Kassin_Sabbagh_Realty) TENANT'S REP: Nathaniel Mallon, Brendan Thrapp & Julia Zoraian - Verada Retail ASKING RENT: $65/ft ~ SF: 14,000 LEASE TYPE: Ground Lease -TennyYam

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Deal Type
Effective Rent (Annual)

$1,043,213.02

Total Lease Value

$10,432,130.17

Net Landlord Cash Flow$1,043,213.02