Romana Hotel Leases Hotel Space At 38-61 12th Street Long Island City For $60/ft
LEASED
$60
New York
See Similar DealsHotel68,960 SF
Leased 04/15/2025
LEASED
Romana Hotel Leases Hotel Space At 38-61 12th Street Long Island City For $60/ft
38 61 12th Street
See Similar DealsHotel68,960 SF
Leased 04/15/2025
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$60
Total Square Footage:68,960 SF
Transaction Type:Lease
The asset involved in the transaction is a hotel located at 38-61 12th Street in Long Island City. This property was leased to Romana Hotel with an asking rent of $60 per square foot, encompassing a total area of 68,960 square feet. The lease type is classified as a NNN lease.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $60/ft
- Lease Type: NNN Lease
- Tenant: Romana Hotel
- Broker: Jeff Geoghegan - KSR
- Market: Long Island City
- Date: 4/15/2025
Jeff Geoghegan from KSR is involved in the transaction, representing the interests of Romana Hotel. KSR is currently representing multiple hotel operators seeking NNN lease opportunities and acquisition prospects for hotel properties across the country. They encourage principals or brokers with qualified opportunities to reach out directly.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$4,743,294.70
Total Lease Value
$47,432,947.04
Net Landlord Cash Flow$4,743,294.70
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