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2401 44th Rd, Queens, NY, 1...

New York Times Company Leases 57846 Square Feet At 2401 44th Rd Long Island City
LEASEDOffice

New York Times Company Leases 57846 Square Feet At 2401 44th Rd Long Island City

2401 44th Rd, Queens, NY, 11101

Building Size

57,846 SF

Asset Type

Office

Closing

Aug 8, 2019

AI

The property involved in this transaction is located at 2401 44th Rd, Queens, NY, 11101. It is situated in the Long Island City market and includes a total area of 57,846 square feet.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 2401 44th Rd, Queens, NY, 11101
  • Market: Long Island City
  • Square Feet: 57,846
  • Landlord: United Nations Federal Credit Union
  • Tenant: New York Times Company
  • Landlord's Representative: Lauren Calandriello - JRT Realty Group, Gregory Smith

This transaction showcases a significant lease between the United Nations Federal Credit Union and the New York Times Company, with representation from Lauren Calandriello of JRT Realty Group and Gregory Smith. The deal reflects the active engagement of both parties in the commercial real estate landscape in New York.

Players

Gregory Smith

Broker

10 deals

Broker
Tri State Commercial Realty
Tri State Commercial RealtyBrokerage

Long Island City 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93