Pi Capital Partners Leases Office Space At 136-18 39th Avenue In Flushing For $75/ft
136 18 39th Avenue
$75
$75/SF
Building Size
680 SF
Asset Type
Office
Closing
Apr 30, 2025
About this deal
AI
This office lease is located at 136-18 39th Avenue in the Flushing market, featuring a total area of 680 square feet. The asking rent for this property is set at $75 per square foot. The lease term agreed upon is for 5 years, classified as a modified gross lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $75/ft
- Lease Term: 5 years
- Lease Type: Modified Gross Lease
- Landlord: Pi Capital Partners
- Broker: Jerry Pi
The transaction was facilitated by broker Jerry Pi, representing Pi Capital Partners as the landlord in this lease agreement. This underscores the collaboration between the landlord and the brokerage team to finalize the terms of the lease efficiently.
On the Map
$75
$75/SF
Office
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Players
Flushing Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93