Real Estate company CPEX’s Retail Investment Sales Team recently sold 57-38 Myrtle Ave.in Ridgewood. The three-story, 3,800 square foot retail building sold for $2.6 million or approximately $684 per square foot.
Prior to the sale, CPEX’s Retail Leasing Team triple-net leased the entire building to Ridgewood Ale House.
“The driving force behind this transaction was the asset’s location on the best block of the premier retail corridor that spans the entire Ridgewood neighborhood,” said Andre Sigourney, associate director of CPEX’s Retail Sales Team. “We believe the transformation of Ridgewood and the surrounding area is only just beginning to scratch the surface of the growth potential for retail.”
CPEX’s Retail Sales Team, consisting of Sigourney and Associates Harrison Balisky, Dimitri Venekas and Nash Larmoyeux, represented the seller and procured the buyer in the transaction. CPEX’s Retail Leasing Team, consisting of Managing Director Ryan Condren, Associate Director George Danut, and Associate Keat Chew, previously represented the landlord in negotiating the lease with Ridgewood Ale House.