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34 24 Vernon Boulevard

Lalezarian Properties Leases 135400 Square Feet Industrial Space At 34 24 Vernon Boulevard
LEASEDIndustrial

Lalezarian Properties Leases 135400 Square Feet Industrial Space At 34 24 Vernon Boulevard

34 24 Vernon Boulevard & 34 31 Vernon Boulevard

Building Size

270,800 SF

Asset Type

Industrial

Closing

Mar 7, 2025

AI

The property asset involved in this lease transaction is located at 34 24 Vernon Boulevard in New York City. This industrial asset encompasses a total square footage of 135,400.0 square feet.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Tenant: Lalezarian Properties
  • Landlord: Henry Modell & Company, Inc. and Bert E. Brodsk
  • Date of Lease: 03/07/2025

The transaction involves Lalezarian Properties as the tenant, while the landlords are Henry Modell & Company, Inc. and Bert E. Brodsk. Their involvement highlights the participation of established companies in this leasing deal within the industrial market.

Players

Mitchell B. Modell

Landlord

$137.5M

vol

3 deals

Landlord
BEB Capital
BEB Capital Landlord
Lalezarian Properties
Lalezarian PropertiesTenant

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