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
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