Updated Oct 28, 2024
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
- Property Type: Industrial
- Date: 12/01/2021
- Address: 19-40 38th St., Astoria
- Market: Astoria
- Landlord: Zeus Management - Spiro Karolis
- Tenant: Griffins Landscaping
- Brokers: Luca DiCiero ([email protected]) & Devin Navarro ([email protected]) - NY Space Finders
- Asking Rent: $17/ft.
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
Astoria Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
Deal FAQ
Browse New York industrial leases on Traded.
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