Updated Jun 24, 2025
Allen Architectural Metals Leases Industrial Space At 10-31 44th Drive Long Island City For $34/ft
10 31 44th Drive
$34
$34/SF
Building Size
2,000 SF
Asset Type
Industrial
Closing
Jun 16, 2025
About this deal
AI
The property asset involved in this transaction is an industrial space located at 10-31 44th Drive in Long Island City. The asset encompasses a total area of 4,125 square feet and is leased under a modified gross lease at an asking rent of $34 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $34/ft
- Leased Area: 4,125 SF
- Landlord: Anthony Faglione
- Tenant: Allen Architectural Metals
- Brokers: Luca DiCiero & Faisal Gilani - NY Space Finders
- Lease Type: Modified Gross Lease
- Date of Transaction: 6/17/2025
This deal featured representations by Luca DiCiero and Faisal Gilani, who acted as brokers on behalf of the landlord and tenant in this leasing agreement. Their involvement facilitated the transaction between Anthony Faglione and Allen Architectural Metals.
On the Map
$34
$34/SF
Industrial
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Players
Long Island City Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
466558.82%
Cash-on-Cash
-133343.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93