Updated Jun 26, 2026
Cindy Zhang Leases Industrial Space From Landlord Henry Lee At 31-49 Higgins Street
31-49 Higgins Street
$32
$32/SF
Building Size
4,500 SF
Asset Type
Industrial
Closing
May 23, 2026
About this deal
AI
The transaction involves an industrial asset located at 31-49 Higgins Street, Flushing. The lease was agreed upon at an asking rent of $32 per square foot for a total area of 4,500 square feet. This modified gross lease was executed within 30 days of being on the market and attracted multiple backup offers.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $32/ft
- Lease Type: Modified Gross Lease
- Landlord: Henry Lee
- Tenant: Cindy Zhang
- Broker: Li (Barbie) Li - B Square Realty
Li (Barbie) Li from B Square Realty represented the landlord in this transaction, highlighting the effectiveness of their team in securing tenants and facilitating quick lease agreements. The broker's note indicates a strong market demand for similar commercial spaces, suggesting a well-positioned strategy for landlords seeking efficient lease transactions.
On the Map
$32
$32/SF
Industrial
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Players
Flushing 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
495718.75%
Cash-on-Cash
-141677.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93