Jacob Katz Leases Retail Space To Energize Social Adult Daycare In Astoria For $35/ft
2-24 26th Avenue
$35
$35/SF
Building Size
4,614 SF
Asset Type
Retail
Closing
Dec 11, 2024
AI
The property involved in this transaction is a retail space located at 2-24 26th Avenue in Astoria. The lease is for a total square footage of 4,614 and the asking rent is set at $35 per square foot. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35/ft
- Square Footage: 4,614
- Address: 2-24 26th Avenue
- Market: Astoria
- Landlord: Jacob Katz
- Tenant: Energize Social Adult Daycare
- Brokers: Richard Babeck & Fredy Bagdadi - Tri State Commercial Realty
Richard Babeck and Fredy Bagdadi, representing Tri State Commercial Realty, facilitated the lease transaction between landlord Jacob Katz and tenant Energize Social Adult Daycare. Their involvement played a key role in bridging the agreement between the two parties.
Players
Astoria 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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93