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9-03 44th Road

Barone Management Leases Mixed-Use Space In Long Island City To City Pickle
LEASEDMixed-use

Barone Management Leases Mixed-Use Space In Long Island City To City Pickle

9-03 44th Road

$60

$60/SF

Building Size

10,110 SF

Asset Type

Mixed-use

Closing

Nov 7, 2022

AI

Barone Management has leased a mixed-use property located at 9-03 44th Road in Long Island City. The tenant, City Pickle, will occupy the space, covering approximately 10,110 square feet. The leasing deal was facilitated by Ravi Idnani and Caleb Petersen from Newmark, representing the landlord.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: Lease
  • Address: 9-03 44th Road, Long Island City
  • Market: Long Island City
  • Tenant: City Pickle
  • Landlord: Barone Management
  • Brokers: Ravi Idnani & Caleb Petersen - Newmark
  • Asking Rent: $60/ft.
  • Square Footage: 10,110

This lease deal marks the collaboration between Barone Management, the property's landlord, and the tenant, City Pickle. The negotiations were facilitated by Ravi Idnani and Caleb Petersen from Newmark, who acted as the brokers representing Barone Management. The leasing agreement secured City Pickle as the occupant of this mixed-use property in Long Island City.

Players

Ravi Idnani

Newmark

Broker

$3M

vol

67 deals

Broker
BM
Barone ManagementLandlord

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

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93