Robert Bencini Leases Retail Space At 18-27 42nd Street In Astoria, Queens
$40
$40/SF
Building Size
4,500 SF
Asset Type
Retail
Closing
Dec 18, 2023
About this deal
AI
A retail space located at 18-27 42nd Street in Astoria, Queens has been leased. The property, spanning 4,500 square feet, was leased by tenant Robert Bencini. The landlord, Barry McKenna, successfully negotiated the lease terms with an asking rent of $40 per square foot. The lease agreement is for a duration of 3 years, with an option to extend for an additional 2 years.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 18-27 42nd Street, Astoria, Queens
- Tenant: Robert Bencini
- Landlord: Barry McKenna
- Brokers: Luca DiCiero & Devin Navarro - NY Space Finders
- Asking Rent: $40 per square foot
- Lease Term: 3 years plus 2-year option
The lease deal was facilitated by Luca DiCiero and Devin Navarro of NY Space Finders, who represented both the tenant, Robert Bencini, and the landlord, Barry McKenna. Their expertise and negotiation skills played a crucial role in finalizing the lease agreement for the retail space at 18-27 42nd Street in Astoria, Queens.
Players
Market 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
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93