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19-40 38th St, Astoria, NY,...

Updated Oct 28, 2024

Griffins Landscaping Leases Industrial Space In Astoria For $17/ft
LEASEDIndustrial

Griffins Landscaping Leases Industrial Space In Astoria For $17/ft

19-40 38th St, Astoria, NY, USA

Building Size

11,000 SF

Asset Type

Industrial

Closing

Dec 1, 2021

About this deal

AI

The industrial property located at 19-40 38th St. in Astoria has been leased. The property, spanning approximately 11,000 square feet, was leased by Griffins Landscaping. The lease transaction was facilitated by Luca DiCiero and Devin Navarro from NY Space Finders. The asking rent for the property was $17 per square foot.

Summary of transaction details

The lease transaction signifies the successful collaboration between Griffins Landscaping, the tenant, and Zeus Management, represented by Spiro Karolis. The deal was finalized with the assistance of Luca DiCiero and Devin Navarro from NY Space Finders. This lease presents an opportunity for Griffins Landscaping to expand its operations in the industrial sector.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Astoria 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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