US Auto City Leases Industrial Space In Long Island City, Queens
47-01 Northern Boulevard
$50
$50/SF
Building Size
8,500 SF
Asset Type
Industrial
Closing
Nov 1, 2023
AI
The industrial property located at 47-01 Northern Boulevard in Long Island City, Queens has been leased to US Auto City. The property spans approximately 8,500 square feet and is owned by Ashley Cho. The lease was facilitated by brokers Luca DiCiero, Faisal Gilani, and Damian Dakas of NY Space Finders. The lease type is a modified gross lease, with an asking rent of $50 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 47-01 Northern Boulevard, Long Island City, Queens
- Market: Long Island City, Queens
- Landlord: Ashley Cho
- Tenant: US Auto City
- Brokers: Luca DiCiero, Faisal Gilani, and Damian Dakas - NY Space Finders
- Asking Rent: $50/ft
- SF: 8,500
- Lease Type: Modified Gross Lease
In this transaction, Luca DiCiero, Faisal Gilani, and Damian Dakas from NY Space Finders played a crucial role as brokers, successfully facilitating the lease between Ashley Cho, the landlord, and US Auto City, the tenant.
Players
Brooklyn 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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93