Central Queens Academy Leases Office At 86-55 Queens Boulevard
86-55 Queens Boulevard
Building Size
55,000 SF
Asset Type
Office
Closing
Feb 20, 2024
About this deal
AI
The office property located at 86-55 Queens Boulevard in Elmhurst, Queens, has been leased to Central Queens Academy. The lease, signed with a term of 32 years, is structured as a NNN Lease with an asking rent of $57 per square foot for the 55,000 square foot space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Tom Wu & Chris Xu
- Tenant: Central Queens Academy
- Brokers: Steve Zhu - Compass & Stephen Powers - OPEN Impact Real Estate
- Address: 86-55 Queens Boulevard, Elmhurst, Queens
- Market: Elmhurst, Queens
- Lease Type: NNN Lease
- Lease Term: 32 Years
- Asking Rent: $57/ft
- Square Footage: 55,000
Steve Zhu from Compass and Stephen Powers from OPEN Impact Real Estate represented the parties in this lease transaction, ensuring a successful agreement for both the landlord, Tom Wu & Chris Xu, and the tenant, Central Queens Academy.
On the Map
Office
View full map
Players
Rego Park Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Visit Steve Zhu to view all their deals.
Browse Rego Park office leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
278298.25%
Cash-on-Cash
-79538.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93