Updated Oct 28, 2024
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
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