Updated Dec 4, 2024
Omar Miller Leases Industrial Space At 25-03 Borden Avenue In Long Island City With NY Space Finders
25-03 Borden Avenue
$33
$33/SF
Building Size
2,000 SF
Asset Type
Industrial
Closing
Jan 12, 2024
About this deal
AI
Located at 25-03 Borden Avenue in Long Island City, this industrial property was recently leased. The transaction was finalized on January 12, 2024. The property spans a total of 2,000 square feet, and the lease term is set for 2 years.
Summary of Transaction Details
- Property Type: Industrial
- Asking Rent: $33/ft
- Landlord: John Gandolfo
- Tenant: Omar Miller
- Brokers: Luca DiCiero, Devin Navarro, and Rocco Pasquariello - NY Space Finders
- Lease Type: Retail Lease
Omar Miller, the tenant, seized the opportunity to lease this industrial property in Long Island City. Represented by Luca DiCiero, Devin Navarro, and Rocco Pasquariello from NY Space Finders, the lease agreement was successfully negotiated. John Gandolfo is the landlord in this transaction.
Players
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
480696.97%
Cash-on-Cash
-137384.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93