Nicholas Stefanou Leases Office Space At 36-16 13th Street To Power Concrete For 2 Years
36-16 13th Street
$24
$24/SF
Building Size
2,000 SF
Asset Type
Office
Closing
Aug 9, 2024
AI
The property involved in this transaction is an office asset located at 36-16 13th Street in Long Island City. The asking rent for this space is $24 per square foot, with a total area of 2,000 square feet. The lease term agreed upon is for 2 years, under a Single Net Lease structure.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24/ft
- Lease Term: 2 years
- Lease Type: Single Net Lease
- Landlord: Nicholas Stefanou
- Tenant: Power Concrete
- Broker Representatives: Steve Lelekidis & Dimitrios Koufakos - Modern Spaces
The deal features broker representatives Steve Lelekidis and Dimitrios Koufakos, who are associated with Modern Spaces. They facilitated the leasing process between the landlord, Nicholas Stefanou, and the tenant, Power Concrete, ensuring both parties reached a mutually agreeable lease arrangement.
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
660958.33%
Cash-on-Cash
-188903.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93