Gersh Academy Signs Lease For Retail Space In Jamaica
113-05 Springfield Blvd, Jamaica, NY, USA
Building Size
11,448 SF
Asset Type
Retail
Closing
Aug 30, 2021
AI
A retail property located at 113-05 Springfield Blvd. in Jamaica has been leased. The property has a total square footage of 11,448 sqft. The lease transaction was completed on 08/30/2021. The tenant, Gersh Academy, will occupy the space. The landlord, RJ Capital Holdings, facilitated the lease deal.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 08/30/2021
Michelle Abramov from Asset Commercial Realty Group (AssetCRG) represented Gersh Academy as their broker in the deal. The asking rent for the property was $45 per square foot.
Players
Queens Village Retail Market Snapshot
Boundary boundary · Retail · 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