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
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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