Rafi Haghani Leases Office Space To Dr. Hany Mekhael At 78-03 31st Avenue For $41/ft
78-03 31st Avenue
$11,750
$11,750/SF
Building Size
3,500 SF
Asset Type
Office
Closing
May 7, 2026
AI
The property is an office located at 78-03 31st Avenue in the East Elmhurst market. The lease was agreed upon for a space encompassing 3,500 square feet, with an asking rent of $41 per square foot. The lease term is set for 5 years under a modified gross lease agreement.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $41/ft
- Lease Term: 5 years
- Lease Type: Modified Gross Lease
- Landlord: Rafi Haghani
- Tenant: Dr. Hany Mekhael
- Brokers: Richard Babeck & Freddy Meytin - Tri State Commercial Realty
Richard Babeck and Freddy Meytin served as the brokers representing the transaction, facilitating the lease agreement between the landlord and tenant. Their role involved navigating the leasing process on behalf of the parties involved.
Players
East Elmhurst 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
1350.04%
Cash-on-Cash
-385.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93