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47-01 Northern Boulevard

US Auto City Leases Industrial Space In Long Island City, Queens
LEASEDIndustrial

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

Faisal Gilani

NY Space Finders

Broker

$27.4M

vol

46 deals

Broker

Ashley Cho

Landlord

2 deals

Landlord

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