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21-30 44th Dr.

Local Locker Signs Lease At 21-30 44th Dr. In Long Island City
SOLD

Local Locker Signs Lease At 21-30 44th Dr. In Long Island City

21-30 44th Dr.

Building Size

Asset Type

Closing

Sep 15, 2022

AI

The retail property located at 21-30 44th Dr. in Long Island City has been leased. The property spans 5,985 square feet and was leased by Local Locker. The landlord, Elias Kougemitros and Scott Shnay, agreed to the lease transaction. The lease was facilitated by Eddie Mamiye of Stately Ventures, who represented Local Locker. On the landlord's side, the lease was handled by Ike Bibi, George Skaliarinis, and Mark Gallucci of KSR.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 21-30 44th Dr., Long Island City
  • Tenant: Local Locker
  • Tenant's Rep: Eddie Mamiye - Stately Ventures
  • Landlord: Elias Kougemitros & Scott Shnay
  • Landlord's Rep: Ike Bibi, George Skaliarinis, & Mark Gallucci - KSR

Eddie Mamiye of Stately Ventures played a crucial role in securing the lease for Local Locker. Meanwhile, the landlord's representative included Ike Bibi, George Skaliarinis, and Mark Gallucci from KSR. This lease transaction signifies a successful collaboration between the tenant and landlord parties.

Players

Elias Kougemitros

Landlord

4 deals

Landlord

Scott Shnay

Landlord

$113M

vol

9 deals

Landlord
LL
Local LockerTenant

New York CRE Market Snapshot

Boundary boundary · CRE · Sale 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