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
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