Steve Tenedios Leases Office Space To The Rare Company At 35-25 30th Avenue In Astoria
35 25 30th Avenue
$16
$16/SF
Building Size
5,000 SF
Asset Type
Office
Closing
Feb 20, 2025
AI
The property asset is located at 35-25 30th Avenue in the Astoria market. This office space encompasses a total square footage of 5,000 and is being leased at an asking rent of $16 per square foot. The lease is structured as a Modified Gross Lease with a term of 5 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16/ft
- Square Footage: 5,000
- Address: 35-25 30th Avenue
- Market: Astoria
- Landlord: Steve Tenedios
- Tenant: The Rare Company - Bryce Ryan
- Broker: Steve Lelekidis - Modern Spaces
- Lease Term: 5 years
- Lease Type: Modified Gross Lease
The key individuals involved in this transaction include landlord Steve Tenedios and tenant Bryce Ryan, representing The Rare Company. The deal was brokered by Steve Lelekidis from Modern Spaces, facilitating the agreement between the parties to establish the lease terms.
Players
Astoria 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
991437.50%
Cash-on-Cash
-283355.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93