BRP Companies Leases Retail Space To 375 Chicken 'N Fries At 147-18 Archer Avenue
147 18 Archer Avenue
$100
$100/SF
Building Size
1,580 SF
Asset Type
Retail
Closing
Feb 14, 2025
AI
The property asset involved in the transaction is a retail space located at 147-18 Archer Avenue in Jamaica, Queens. The lease type is a Modified Gross Lease, and the asking rent is $100 per square foot for a total area of 1,580 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $158,000
- Landlord: BRP Companies
- Tenant: 375 Chicken 'N Fries
- Landlord's Representative: Diana Boutross - Cushman & Wakefield
- Tenant's Representative: Aric Trakhtenberg - Newmark
The deal features 375 Chicken 'N Fries, a quick-service restaurant chain developed and led by Michelin-level chef Stephane Lemagnen, known for his work in Parisian restaurants and private celebrity homes. The business continues to expand throughout New York City.
Players
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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93