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136 18 39th Avenue

Pi Capital Partners Leases Office Space At 136-18 39th Avenue In Flushing For $75/ft
LEASEDOffice

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

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.

Players

Jerry Pi

Broker

5 deals

Broker

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