Utopia Bagels Signs 15-Year Lease In Long Island City For $100/ft
26-11 Jackson Avenue
$100
$100/SF
Building Size
6,800 SF
Asset Type
Retail
Closing
Jun 12, 2024
AI
The retail property located at 26-11 Jackson Avenue in Long Island City, Queens, was leased for Utopia Bagels. The lease term is for 15 years with an asking rent of $100 per square foot for a total of 6,800 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Patricia Dunphy - Rockrose Development
- Tenant: Utopia Bagels
- Brokers: Alexander Karas & Jeff Winick - Winick Realty Group
- Address: 26-11 Jackson Avenue
- Market: Long Island City, Queens
The leasing deal was facilitated by Alexander Karas and Jeff Winick from Winick Realty Group. Utopia Bagels, known for its long queues, will be expanding its presence with this new location in Long Island City, Queens.
Players
Long Island City 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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93