Chelsea Piers Fitness Leases 72K SF Retail Space In Long Island City
24-11 Jackson Avenue Long Island City, New York 11101, USA
Building Size
72,000 SF
Asset Type
Retail
Closing
Jul 10, 2023
About this deal
AI
Chelsea Piers Fitness has signed a 72,000-square-foot lease to anchor a new residential tower located at 24-11 Jackson Avenue in Queens. The lease agreement was secured with the landlord, Tavros, Charney Cos., and Incoco Capital.
Summary of transaction details:
- Property Type: Retail
- Lease Square Footage: 72,000
- Address: 24-11 Jackson Avenue, Queens
- Market: Queens
The lease was facilitated by brokers Erin Grace and Matt Ogle from JLL. Tavros, Charney Cos., and Incoco Capital were represented in-house as landlords for the transaction.
On the Map
Retail
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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