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28 Jackson Avenue, Long Isl...

Updated Nov 28, 2024

Spot Dessert Bar Leases Retail Space In Long Island City, NY
LEASEDRetail

Spot Dessert Bar Leases Retail Space In Long Island City, NY

28 Jackson Avenue, Long Island City, NY 11101

Building Size

1,382 SF

Asset Type

Retail

Closing

Oct 10, 2021

About this deal

AI

The retail property located at 28-01 Jackson Avenue in Long Island City was recently leased. The landlord, Tishman Speyer, entered into a lease agreement with the tenant, Spot Dessert Bar. The lease was facilitated by broker Jessilyn Chen from Compass. The property spans approximately 1,382 square feet and was listed at an asking rent of $80 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 28-01 Jackson Avenue
  • Market: Long Island City
  • Landlord: Tishman Speyer
  • Tenant: Spot Dessert Bar
  • Broker: Jessilyn Chen - Compass
  • Asking Rent: $80/ft.
  • Square Footage: 1,382

Jessilyn Chen from Compass played a vital role as the broker representing both the landlord and the tenant in this lease transaction. The deal highlights the desirability of the property in Long Island City and the popularity of Spot Dessert Bar as a retail tenant. The successful leasing of this retail space demonstrates the proficiency and expertise of Jessilyn Chen in navigating the commercial real estate market in Long Island City.

Players

Jessilyn Chen

Arktic Real Estate

Broker

16 deals

Broker
Compass
CompassBrokerage
Tishman Speyer
Tishman SpeyerLandlord

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

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