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Buka Derm Management Extends Lease For Expanded Office Space In Long Island City

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LEASED

New York

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Office10,351 SF
Leased 05/25/2023
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Property Image
LEASED

Buka Derm Management Extends Lease For Expanded Office Space In Long Island City

10-27 46th Avenue Long Island City, New York 11101, USA

See Similar Deals
Office10,351 SF
Leased 05/25/2023
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:10,351 SF
Transaction Type:Lease

Buka Derm Management, also known as The Dermatology Specialists, has agreed to a 7-year lease extension at 10-27 46th Avenue in Long Island City, Queens. The office space has been doubled to 10,351 square feet, with 5,152 square feet on the first floor and an extension on the third floor. The expanded area will accommodate the practice's general, administrative, and executive offices. The property, located at 10-27 46th Avenue, is fully renovated and centrally located in the vibrant market of Long Island City, Queens.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 10-27 46th Avenue, Long Island City, Queens
  • Market: Long Island City, Queens
  • Square Footage: 10,351

GFP Real Estate represented the landlord in this lease extension deal, while Compass served as the tenant's representative. The fully renovated building offers a prime location and ample space for Buka Derm Management to expand their operations and accommodate their administrative and executive offices. The deal signifies the confidence and growth of Buka Derm Management in the Long Island City market.

Details

LEASED
IMAGE: 05/26/2023 ADDRESS: 10-27 46th Avenue MARKET: Long Island City, Queens ASSET TYPE: Office ~ SF: 10,351 LANDLORD: GFP Real Estate (@GFPRealEstate) TENANT: Buka Derm Management BROKER: Compass (@Compass) (@CompassNY) LEASE TERMS: 7-year lease NOTE: Buka Derm Management, known as The Dermatology Specialists, has agreed to a 7-year lease extension at 10-27 46th Avenue in Long Island City, Queens, doubling its office space to 10,351 square feet. The expanded area, including 5,152 square feet on the first floor and an extension on the third floor, will accommodate the practice's general, administrative, and executive offices. GFP Real Estate acted on behalf of the landlord, with Compass representing the tenant in the deal for the fully renovated building.

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Deal Type
Effective Rent (Annual)

$593,313.07

Total Lease Value

$5,933,130.74

Net Landlord Cash Flow$593,313.07