Shake Shack Signs Lease For Retail Space In Queens' 160-08 Jamaica Avenue
160-08 Jamaica Avenue, Queens, New York 11432, United States
Building Size
6,000 SF
Asset Type
Retail
Closing
Feb 8, 2022
AI
United American Land has leased a retail space located at 160-08 Jamaica Avenue in Queens. The property, measuring 6,000 square feet, was leased to Shake Shack. The tenant was represented by Roberto Rhett from GoodSpace NYC, while the landlord was represented by Brett Weinblatt and Ralph Hanan from Compass. The lease transaction was completed on February 9, 2022. The asking rent for the space was $175 per square foot.
Summary of transaction details
- Property Type: Retail
- Date: 02/09/2022
- Address: 160-08 Jamaica Avenue
- Market: Queens
- Landlord: United American Land
- Tenant: Shake Shack
- Tenant's Rep: Roberto Rhett - GoodSpace NYC
- Landlord's Rep: Brett Weinblatt & Ralph Hanan - Compass
- Asking Rent: $175/ft.
- SF: 6,000
Players
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