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27-20 Jackson Avenue, Long ...

Elmekies Equities Represents Landlord In Lease Deal With Bake Culture USA In Long Island City
LEASEDRetail

Elmekies Equities Represents Landlord In Lease Deal With Bake Culture USA In Long Island City

27-20 Jackson Avenue, Long Island City, NY, USA

Building Size

1,000 SF

Asset Type

Retail

Closing

Dec 20, 2020

AI

Located at 27-20 Jackson Ave in Long Island City, this retail property has recently been leased. The tenant, Bake Culture USA, will occupy a 1,000 square foot space in the building. The lease was finalized on December 21, 2020.

Summary of transaction details

  • Property Type: Retail
  • Date: 12/21/2020
  • Address: 27-20 Jackson Ave
  • Market: Long Island City

Bake Culture USA will be renting from Rockrose NY, the landlord of the property. Throughout the lease negotiation process, Jeff Zheng from Elmekies Equities represented the landlord. The asking rent for the space was set at $50 per square foot.

Elmekies Equities, represented by Jeff Zheng and Edmund Beyda, has been actively seeking opportunities to represent landlords in their retail spaces. Their team has been negotiating with multiple retail tenants looking to expand. If you have any vacancies, you can reach out to Jeff Zheng at [email protected] or by phone at 917-947-9056, or contact Edmund Beyda at [email protected] or by phone at 347-768-2814.

Players

Jeff Zheng

Polaris Property Group

Broker

$90.9M

vol

11 deals

Broker
R
RockroseNYLandlord

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