Xiachong Li Acquires Retail Property From Paul Amato In Ridgewood For $1.83M

This is a 3-story retail property located at 57-18 Myrtle Avenue in Ridgewood, sold for $1,830,000. The property has a total square footage of 4,241 and a price per square foot of $431. It is a net-lease asset with Wendy’s occupying the space through 2042, featuring 3% annual increases, and designated as a zero-management property.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,830,000
• Address: 57-18 Myrtle Avenue
• Market: Ridgewood
• Square Footage: 4,241
• Price Per Square Foot: $431
• Buyer: Xiachong Li
• Seller: Paul Amato
• Broker Representation: Scott Plasky & William Stephan - Marcus & Millichap

The deal involved Xiachong Li as the buyer and Paul Amato as the seller, with brokerage services provided by Scott Plasky and William Stephan from Marcus & Millichap, representing the interests of the seller in this transaction.