Overview

Description

Nestled in the heart of Ridgewood, Bar Freda is a fusion of flavors, rhythms, and good vibes. A cozy space where the scent of sizzling burgers mingles with the rich aroma of freshly brewed craft beers, while the buzz of lively conversations dances through the air.

There’s more to Bar Freda than meets the eye. As twilight descends, the cellar stage comes alive with the soulful sounds of local musicians, setting the scene for a night of musical enchantment.

Step inside and you’ll find yourself transported to a world where culinary delights meet sonic pleasures, where every sip, every bite, and every beat tells a story. Bar Freda isn’t just a bar – it’s a symphony of taste and sound.

Highlights

• Located at the corner of Seneca and Putnam Avenues in Prime Ridgewood, Queens
• 7,500 Gross SF - 6,000 SF above grade with a legal 1,500 SF retail cellar
• 100% Free Market with 5 large residential units and occupied corner retail
• 25’ x 80’ across all three floors, with windows on all four sides
• Luxury design, appliances, and finishes complement institutional quality construction
• The retail tenant, Freda, is a 2,400 SF music venue and craft beer destination
• Collected Gross Rent of $303,600 with an NOI of $234,908 (6% Cap)
• Residential rent basis of $52 per SF and retail basis of $30, suggests significant upside
• Tax Class protected (2A), limiting tax increases to no more than 8% per year
• Apartments: One (1) 3BR/1BA, Two (2) 3BR/2BA, Two (2) 4BR/2BA
• One Block to Myrtle Avenue and direct access to both M and L Subways

Documents

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