Rock Fitness Signs 20-Year Lease At 71-17 Roosevelt Avenue In Jackson Heights With Werber Real Estate
71 17 Roosevelt Avenue
Building Size
16,000 SF
Asset Type
Mixed-use
Closing
Sep 30, 2025
About this deal
AI
The property asset involved in this lease transaction is a mixed-use building located at 71-17 Roosevelt Avenue in Jackson Heights, encompassing a total square footage of 16,000 SF.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not disclosed
- Lease Term: 20 years
- Lease Type: Modified Gross Lease
- Landlord: Werber Real Estate
- Tenant: Rock Fitness
- Brokers: Adam Heller, Joshua Singer & Stephen Weber - The Heller Organization
- Date: 10/1/2025
This transaction was facilitated by The Heller Organization, represented by brokers Adam Heller, Joshua Singer, and Stephen Weber, who were key individuals in the negotiation of the lease for the tenant, Rock Fitness. The lease showcases a long-term commitment, indicative of strategic planning by both the landlord and tenant.
On the Map
Mixed-use
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Jackson Heights 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