Multisweet Inc. Bakery Leases Mixed-Use Space In Long Island City
21-52 44th Dr, Long Island City, NY 11101, USA
Building Size
1,775 SF
Asset Type
Mixed-use
Closing
Sep 15, 2020
About this deal
AI
The mixed-use property located at 21-52 44th Dr. in Long Island City has recently been leased. The property spans 1,775 square feet and was listed with an asking rent of $57.50 per square foot. The tenant, Multisweet Inc. Bakery, has secured the lease. The landlord, Jacob Sebag, facilitated the deal. The brokerage firm Modern Spaces, represented by Jiali Hua, was involved in the transaction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: N/A
- Address: 21-52 44th Dr., Long Island City
- Market: Long Island City
- Asking Rent: $57.50 per square foot
- Square Footage: 1,775
- Tenant: Multisweet Inc. Bakery
- Landlord: Jacob Sebag
- Broker: Jiali Hua - Modern Spaces
Furthermore, it is worth noting that the owners of Multisweet Inc. Bakery, including Jing Tang, Kerui Zhao, Louise Huang, and Nigel Yin, generously donated cakes to Mount Sinai Queens during the COVID-19 pandemic.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
Loading comparables…
Deal FAQ
Browse New York mixed use leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93