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10 31 44th Drive

Allen Architectural Metals Leases Industrial Space At 10-31 44th Drive Long Island City For $34/ft
LEASEDIndustrial

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

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.

Players

Faisal Gilani

NY Space Finders

Broker

$27.4M

vol

46 deals

Broker
NY Space Finders
NY Space FindersBrokerage

Anthony Faglione

Landlord

$13.9M

vol

4 deals

Landlord

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