Updated Oct 16, 2026
Michael Rienzi Leases 5,000 SF Parking Lot To Nexon Auto In Astoria For $17/ft
18-78 Steinway Street
$17
$17/SF
Building Size
5,000 SF
Asset Type
Parking Lot
Closing
Oct 9, 2026
About this deal
AI
The asset involved in this transaction is a parking lot located at 18-78 Steinway Street in Astoria. The property consists of a total square footage of 5,000 and is leased under a Modified Gross Lease at an asking rent of $17 per square foot.
Summary of transaction details:
- Property Type: Parking Lot
- Transaction Amount: $17/ft
- Square Footage: 5,000
- Address: 18-78 Steinway Street
- Market: Astoria
- Landlord: Michael Rienzi
- Tenant: Nexon Auto
- Brokers: Luca DiCiero & Faisal Gilani - NY Space Finders
- Lease Type: Modified Gross Lease
Luca DiCiero and Faisal Gilani represented the landlord Michael Rienzi in this lease transaction to the tenant Nexon Auto. Additionally, there is a note indicating that a 10,000 square foot corner lot on the property remains available for lease.
On the Map
$17
$17/SF
Parking Lot
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Players
Astoria Parking Lot Market Snapshot
Boundary boundary · Parking Lot · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
933117.65%
Cash-on-Cash
-266687.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93