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33-02 Skillman Avenue

First Pioneer Properties Leases 80,676 SF Office Space To Piece Of Cake Moving & Storage
LEASEDOffice

First Pioneer Properties Leases 80,676 SF Office Space To Piece Of Cake Moving & Storage

33-02 Skillman Avenue

$24

$24/SF

Building Size

80,676 SF

Asset Type

Office

Closing

Jun 12, 2024

AI

The property asset involved in this transaction is located at 33-02 Skillman Avenue in Long Island City. It is an office asset type with a total square footage of 80,676. The asking rent for this space is set at $24 per square foot, categorized as a retail lease.

Summary of transaction details:

The deal involves several key representatives from different brokerage firms. Notably, Victor Sozio, Steven Hornstock, and Alexander Taic represent Ariel Property Advisors, while Randy Modell represents ABS Partners Real Estate. Additionally, Vincent Lopez and Jacques Wadler are affiliated with Knickerbocker Realty Group, contributing to the coordination of this lease transaction.

Players

Alexander Taic

Ariel Property Advisors

Broker

$148.4M

vol

20 deals

Broker

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

660958.33%

Cash-on-Cash

-188903.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93