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Orbital Kitchens Leases Industrial Space In Queens With Igloo Reps Involved

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LEASED

New York

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Industrial34,953 SF
Leased 03/12/2024
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Property Image
LEASED

Orbital Kitchens Leases Industrial Space In Queens With Igloo Reps Involved

42-45 12th Street

See Similar Deals
Industrial34,953 SF
Leased 03/12/2024
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:34,953 SF
Transaction Type:Lease

The industrial property located at 42-45 12th Street in Queens, known as the Steinway Building, spans 34,953 square feet. The lease agreement for this asset was signed by Orbital Kitchens, a virtual restaurant, for a term of 15 years. Superior Management acts as the landlord in this transaction, with the deal being facilitated by brokers Adam Joly and Rachel Cohen fromIgloo.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 42-45 12th Street
  • Market: Queens
  • Tenant: Russell Yam - Orbital Kitchens
  • Brokers: Adam Joly & Rachel Cohen - Igloo

Russell Yam representing Orbital Kitchens and the team of Adam Joly and Rachel Cohen from Igloo were the key individuals involved in the successful leasing transaction at 42-45 12th Street. The partnership between Orbital Kitchens and Superior Management marks a significant business collaboration in the industrial real estate sector in Queens.

Players

Adam Joly
2 deals(917) 538-8190
BROKER

Details

LEASED
IMAGE: Adam Joly, Russell Yam & Rachel Cohen DATE: 03/12/2024 ADDRESS: 42-45 12th Street MARKET: Queens ASSET TYPE: Industrial ~ SF: 34,953 LANDLORD: Superior Management TENANT: Russell Yam - Orbital Kitchens BROKERS: Adam Joly & Rachel Cohen - Igloo NOTE: Orbital Kitchens, a virtual restaurant, has signed a lease for 34,953 square feet at 42-45 12th St., Queens, in the Steinway Building. The lease, facilitated by brokers Igloo's Adam Joly and Rachel Cohen, spans 15 years with Superior Management as the landlord.

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Deal Type
Effective Rent (Annual)

$2,003,484.87

Total Lease Value

$20,034,848.68

Net Landlord Cash Flow$2,003,484.87