New York Life Leases 20,000 SF Space In Rego Park, Queens
9777 Queens BLVD, Queens, NY, 11374
Building Size
20,000 SF
Asset Type
—
Closing
Nov 20, 2023
AI
Located at 9777 Queens Blvd in Rego Park, New York, the recently leased office space spans 20,000 square feet. The property serves as the new office location for insurance giant New York Life.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 9777 Queens Blvd, Queens, NY, 11374
- Market: Rego Park
- Landlord's Rep: Marylou Berk (LeFrak Organization), Meredith Jackness (LeFrak Organization), Michael O’Leary (Lee & Associates), Roy Chipkin (CBRE)
- Tenant: New York Life
- Landlord: LeFrak
- Square Feet: 20000
JLL, acting as the tenant's representative, facilitated the 20,000-square-foot office lease agreement at 9777 Queens Blvd. On the landlord's side, LeFrak was represented by Marylou Berk of the LeFrak Organization, alongside internal agents Meredith Jackness and Michael Leary, as well as Roy Chipkin from CBRE.
Players
Rego Park CRE Market Snapshot
Boundary boundary · CRE · 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