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17 Northern Boulevard, Flus...

Updated Dec 21, 2023

Hunyeo Kang Signs Lease For Retail Space At 146-17 Northern Blvd., Flushing
LEASEDRetail

Hunyeo Kang Signs Lease For Retail Space At 146-17 Northern Blvd., Flushing

17 Northern Boulevard, Flushing, NY, USA

Building Size

6,288 SF

Asset Type

Retail

Closing

Jun 30, 2020

About this deal

AI

A 6,288 square foot retail space located at 146-17 Northern Blvd., Flushing has been leased. The lease was finalized on June 30, 2021. The property is situated in a prime location in North Flushing, which is experiencing significant development in recent years. The asset is owned by Steven Shi & Yong Chen.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 146-17 Northern Blvd., Flushing
  • Tenant: Hunyeo Kang
  • Landlord: Steven Shi & Yong Chen

The lease was facilitated by Barbie Li from B Square Realty. Barbie Li, representing B Square Realty, played a crucial role in finalizing the deal. The asking rent for the space was $68 per square foot. Hunyeo Kang, the tenant, will now occupy the leased retail space.

Note from Barbie Li: A total of 13,000 square feet of commercial space was leased at 146-17 Northern Blvd. There is still an available 4,600 square feet of space, suitable for a commercial restaurant. Interested parties can contact Barbie Li at B Square Realty by calling 347-628-8818 to learn more about this opportunity.

Players

Li Li

B Square Realty

Broker

$83.2M

vol

50 deals

Broker

New York 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

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