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4716 Austel Pl, Queens, NY,...

Joffrey Ballet Signs Lease For 15500 Square Feet At 4716 Austel Pl In Long Island City
LEASEDOffice

Joffrey Ballet Signs Lease For 15500 Square Feet At 4716 Austel Pl In Long Island City

4716 Austel Pl, Queens, NY, 11101

Building Size

15,500 SF

Asset Type

Office

Closing

Aug 4, 2015

AI

The property asset involved is a 15,500 square foot leased space located at 4716 Austel Pl, Queens, NY, within the Long Island City market. The lease agreement was signed for a duration of 10 years by the tenant, Joffrey Ballet, with the landlord being Vanbarton Group.

Summary of transaction details:

The transaction involved key individuals and companies, with Joffrey Ballet represented by Norman Bobrow & Co's Nancy Grod and Carol Gomez. The landlord was represented by Cushman & Wakefield’s Ethan Silverstein and Corey Horowitz, along with JRT Realty’s Ellen Israel, Kristen Morgan, and Lauren Calandriello.

Players

Kristen Morgan

JLL

Broker

24 deals

Broker
Vanbarton Group
Vanbarton GroupBrokerage
Vanbarton Group
Vanbarton GroupLandlord

Long Island City 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