Updated Dec 4, 2024
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
Astoria MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Lease transactions
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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