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148-46 Hillside Ave. Queens...

PCP Medical Office Leases 6,500 SF Office Space At 148-46 Hillside Avenue In Queens
LEASEDOffice

PCP Medical Office Leases 6,500 SF Office Space At 148-46 Hillside Avenue In Queens

148-46 Hillside Ave. Queens, NY 11435, USA

$40

$40/SF

Building Size

6,500 SF

Asset Type

Office

Closing

Jul 1, 2023

AI

The PCP Medical Office has leased a 6,500 square feet office space located at 148-46 Hillside Avenue in Queens. The property is owned by ZD Jasper Realty and was represented in the deal by Stephen Weber and Joshua Singer from The Heller Organization. The lease term is for 10 years with an asking rent of $40 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Asking Rent: $40 per square foot
  • Lease Term: 10 years
  • Square Footage: 6,500
  • Address: 148-46 Hillside Avenue, Queens
  • Landlord: ZD Jasper Realty
  • Tenant: PCP Medical Office
  • Brokers: Stephen Weber & Joshua Singer - The Heller Organization

Stephen Weber and Joshua Singer, representing The Heller Organization, played a key role in facilitating the lease agreement between PCP Medical Office and ZD Jasper Realty. This lease transaction marks a significant milestone for both parties involved in the deal.

Players

Stephen Weber

The Heller Organization

Broker

$22.5M

vol

9 deals

Broker

Jasper Wu

ZD Jasper

Landlord

$666M

vol

21 deals

Landlord

New York 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

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93