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39-01 Main St, Flushing, NY...

Kanglan Medical PLLC Leases Office Space At 39-01 Main St. Flushing - Simon Gerson's Gerson Properties
LEASEDOffice

Kanglan Medical PLLC Leases Office Space At 39-01 Main St. Flushing - Simon Gerson's Gerson Properties

39-01 Main St, Flushing, NY, USA

Building Size

1,104 SF

Asset Type

Office

Closing

Mar 16, 2021

AI

Located at 39-01 Main St. in Flushing, this office property was recently leased. The asset, with a total area of 1,104 square feet, caught the attention of Kanglan Medical PLLC, who will be the new tenant. The landlord, Simon Gerson of Gerson Properties, facilitated the transaction, with representation provided by broker Michael Wang of Michael Wang NYC. The lease was signed on March 17, 2021.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Lease
  • Address: 39-01 Main St. Flushing
  • Tenant: Kanglan Medical PLLC
  • Landlord: Simon Gerson - Gerson Properties
  • Broker: Michael Wang - Michael Wang NYC
  • Asking Rent: $70 per square foot
  • Total Area: 1,104 square feet

With an asking rent of $70 per square foot, this leasing deal provides Kanglan Medical PLLC with a new office space in the Flushing area. Simon Gerson of Gerson Properties acted as the landlord in the transaction, while Michael Wang of Michael Wang NYC represented the tenant as the broker.

Players

Michael Wang

Project Queens

Broker

14 deals

Broker
GP
Gerson PropertiesLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93