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
About this deal
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.
On the Map
Retail
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Players
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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