Alliance Tower Fully Leased By Tenant Under Modified Gross Lease In Flushing At $50/ft

The property involved in the transaction is an office space located at 133-20 41st Road in Flushing. The asset is a newly built eight-story Class A office building comprised of 12 units, including cellar space. It has a total square footage of 23,431 and was leased at an asking rent of $50 per square foot. The lease type is a Modified Gross Lease.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $1,171,550
• Address: 133-20 41st Road
• Landlord: Steven Li
• Broker: Barbie Li - B Square Realty
• Lease Type: Modified Gross Lease
• Market: Flushing

The deal was facilitated by Barbie Li of B Square Realty, who approached the asset with a long-term vision. The strategy involved analyzing tenant demand, traffic patterns, and industry trends to ensure compatibility with market needs. The effort towards achieving full occupancy at Alliance Tower reflects strategic planning, market insight, and disciplined execution in an otherwise challenging office vacancy environment.