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24-11 Jackson Avenue Long I...

Chelsea Piers Fitness Leases 72K SF Retail Space In Long Island City
LEASEDRetail

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

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.

Players

Erin Grace

JLL

Broker

7 deals

Broker
CF
Chelsea Piers FitnessTenant

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