Bark Frameworks Signs 15-Year Lease At 42-45 12th Street, Long Island City For $35/SF
42 45 12th Street
Building Size
17,500 SF
Asset Type
Mixed-use
Closing
Nov 3, 2025
AI
A mixed-use asset located at 42-45 12th Street in Long Island City, this property has a total square footage of 17,500 and features an asking rent of $35 per square foot. The tenant, Bark Frameworks, is set to benefit from the newly renovated building which includes a private, three-level setup suitable for its operations.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not disclosed
- Address: 42-45 12th Street
- Market: Long Island City
- Landlord: Superior Management
- Tenant: Jack Sullivan
- Broker Representation: Jonathan Burke & Patrick Gardner - JW Burke & Company
- Lease Term: 15-year lease
- Asking Rent: $35/ft
Jack Sullivan represents Bark Frameworks in this lease transaction, whereby the firm is relocating from a nearby location. Jonathan Burke and Patrick Gardner from JW Burke & Company acted as brokers throughout the process, securing the lease arrangement for 15 years.
Players
Long Island City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
Loading comparables…
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