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115-02 Merrick Boulevard

Ilan Cohen Leases Retail Space At 115-02 Merrick Boulevard To John's Farmer Market
LEASEDRetail

Ilan Cohen Leases Retail Space At 115-02 Merrick Boulevard To John's Farmer Market

115-02 Merrick Boulevard

$50

$50/SF

Building Size

11,000 SF

Asset Type

Retail

Closing

Sep 4, 2024

AI

The property involved in this lease transaction is located at 115-02 Merrick Boulevard in St Albans, Queens. It is a retail asset with a total square footage of 11,000. The asking rent for the space is $50 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $50/ft
  • Square Footage: 11,000
  • Address: 115-02 Merrick Boulevard
  • Market: St Albans, Queens
  • Landlord: Ilan Cohen
  • Tenant: John's Farmer Market
  • Brokers: George Skaliarinis, Mark Gallucci & Solomon Tbeile - KSR
  • Lease Type: Retail Lease

The deal features Ilan Cohen as the landlord and John's Farmer Market as the tenant. The transaction was facilitated by brokers George Skaliarinis, Mark Gallucci & Solomon Tbeile, representing KSR in the lease agreement.

Players

George Skaliarinis

Kassin Sabbagh Realty

Broker

$7M

vol

53 deals

Broker

Jamaica 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

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93