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39-01 Main Street, Queens, ...

Elite Employment Leases Office Space At 39-01 Main St., Flushing For $60/ft
LEASEDOffice

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

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