Central Queens Academy Charter School Leases Mixed-Use Property At 8808 Justice Ave, Elmhurst, Queens
8808 Justice Ave, Elmhurst, Queens, NY, USA
Building Size
85,000 SF
Asset Type
Mixed-use
Closing
Jan 4, 2021
AI
This lease transaction involves a mixed-use property located at 8808 Justice Ave in Elmhurst, Queens. The tenant, Central Queens Academy Charter School, has leased the space from the landlord, Jiashu Xu. The tenant's representative in the deal is Stephen Powers, while the landlord's representative is Steve Zhu from Compass.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: 01/05/2021
- Address: 8808 Justice Ave, Elmhurst, Queens
- Market: Elmhurst, Queens
- Tenant: Central Queens Academy Charter School
- Landlord: Jiashu Xu
- Tenant's Representative: Stephen Powers
- Landlord's Representative: Steve Zhu @Compass
The asking rent for this lease transaction was $45 per square foot for a total space of 85,000 square feet.
Players
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