Updated Oct 23, 2026
Varkaris Family Leases 5,750 SF Industrial Space To J.A. Lee Electric In Long Island City
37th Avenue
$26
$26/SF
Building Size
5,750 SF
Asset Type
Industrial
Closing
Oct 16, 2026
About this deal
AI
The transaction involves an industrial asset located at 12-19 37th Ave. in Long Island City. The property has a total square footage of 5,750 and is leased under a modified gross lease arrangement. The asking rent for the space was set at $26 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $26/ft
- Square Footage: 5,750
- Address: 12-19 37th Ave.
- Market: Long Island City
- Landlord: The Varkaris Family
- Tenant: J.A. Lee Electric
- Brokers: Luca DiCiero & Faisal Gilani - NY Space Finders
Luca DiCiero and Faisal Gilani represented the interests of the landlord, the Varkaris Family, in this lease transaction, facilitating the agreement with tenant J.A. Lee Electric.
On the Map
$26
$26/SF
Industrial
View full map
Players
Long Island City Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
Deal FAQ
Visit Faisal Gilani to view all their deals.
Browse Long Island City industrial leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
610115.38%
Cash-on-Cash
-174372.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93