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1829 42nd Road, Queens, New...

Updated Oct 28, 2024

Argento General Construction LLC Leases Industrial Space In Astoria, Queens For $27/ft
LEASEDIndustrial

Argento General Construction LLC Leases Industrial Space In Astoria, Queens For $27/ft

1829 42nd Road, Queens, New York 11101, United States

Building Size

4,200 SF

Asset Type

Industrial

Closing

Oct 12, 2022

About this deal

AI

Argento General Construction LLC has secured a lease for an industrial property located at 1829 42nd Street in Astoria, Queens. The property, spanning 4,200 square feet, is owned by Barry Mc Kenna. The lease was facilitated by Luca DiCiero and Devin Navarro of NY Space Finders, who represented both the tenant and the landlord in the transaction. The asking rent for the lease was $27 per square foot.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Date: 10/13/2022
  • Address: 1829 42nd Street, Astoria, Queens
  • Tenant: Argento General Construction LLC
  • Landlord: Barry Mc Kenna
  • Brokers: Luca DiCiero & Devin Navarro of NY Space Finders
  • Asking Rent: $27/ft
  • Square Footage: 4,200

This deal marks an important step for Argento General Construction LLC, as they secure a lease for this industrial property. The involvement of Luca DiCiero and Devin Navarro of NY Space Finders as brokers highlights their expertise in negotiating successful transactions for their clients. The lease agreement was reached on October 13, 2022, adding to the vibrant industrial market in Astoria, Queens.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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