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18-33 42nd Street

Updated Dec 4, 2024

Nick Chatzigeorgakis Signs 3-Year Retail Lease At 18-33 42nd Street In Astoria, Queens
LEASEDMultiFamily

Nick Chatzigeorgakis Signs 3-Year Retail Lease At 18-33 42nd Street In Astoria, Queens

18-33 42nd Street

$27

$27/SF

Building Size

4,500 SF

Asset Type

MultiFamily

Closing

Jan 9, 2024

About this deal

AI

The multifamily property located at 18-33 42nd Street in Astoria, Queens has recently been leased. The transaction was facilitated by brokers Luca DiCiero and Devin Navarro from NY Space Finders. The lease term is for 3 years with an option to renew. The asking rent for the property is $27 per square foot, with a total square footage of 4,500.

Summary of transation details

  • Property Type: Multifamily
  • Asking Rent: $27/ft
  • Square Footage: 4,500
  • Lease Term: 3 Years plus Option to renew
  • Landlord: Barry McKenna
  • Tenant: Nick Chatzigeorgakis
  • Brokers: Luca DiCiero & Devin Navarro - NY Space Finders

Barry McKenna is the landlord of the property, while Nick Chatzigeorgakis is the tenant. The lease was negotiated by Luca DiCiero and Devin Navarro from NY Space Finders. The retail lease agreement allows for a lease term of 3 years, with an option to renew. The transaction represents a mutually beneficial agreement for both the landlord and tenant.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Barry McKenna

Landlord

2 deals

Landlord

Astoria MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

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Deal FAQ

About $27 per square foot on a published $27 for 4,500 square feet (2024).

Visit Devin Navarro to view all their deals.

Browse Astoria multifamily leases on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

587518.52%

Cash-on-Cash

-167914.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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