Elite Employment Leases Office Space At 39-01 Main St., Flushing For $60/ft
39-01 Main Street, Queens, New York 11354, United States
Building Size
1,080 SF
Asset Type
Office
Closing
Feb 28, 2022
AI
Elite Employment has leased 1,080 square feet of office space at 39-01 Main St., Flushing. The property is owned by Gerson Properties and the lease was facilitated by broker Michael Wang of Project Queens. The lease transaction took place on 3rd January 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not mentioned
- Address: 39-01 Main St., Flushing
- Landlord: Gerson Properties
- Tenant: Elite Employment
- Broker: Michael Wang - Project Queens
- Asking Rent: $60/ft.
- Square Footage: 1,080
Downtown Flushing is a major transit hub in Queens, making it an attractive location for businesses. With historically low availability, Elite Employment seized the opportunity to secure prime office space in the area. As an employment agency, they are optimistic about the market rebounding and people returning to work.
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