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21-52 44th Dr, Long Island ...

Updated Dec 20, 2023

Multisweet Inc. Bakery Leases Mixed-Use Space In Long Island City
LEASEDMixed-use

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

Jiali Hua

Modern Spaces

Broker

1 deal

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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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

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