Water Wings Swim School Leases 8,200 Square Feet Condo In Long Island City For $45 Per Ft
1039 49th Avenue
$45
$45/SF
Building Size
8,200 SF
Asset Type
Condo
Closing
Jul 24, 2026
AI
A lease has been executed for a condo located at 1039 49th Avenue in Long Island City. The asking rent for the property is set at $45 per square foot for a total area of 8,200 square feet. The lease is structured as a 10-year modified gross lease.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $369,000
- Landlord: Amara Holding Group
- Tenant: Water Wings Swim School
- Landlord's Representative: Xiao Hu - STAR Real Estate
- Tenant's Representative: Barry Fishbach - KSR
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
Xiao Hu, representing the landlord, has previously brought a children's swimming school to fruition, emphasizing the importance of swimming as a life-saving skill. His commitment extends to enhancing neighborhood services, creating spaces for families to thrive.
Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93