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2922 Northern BLVD, Queens,...

Planet Fitness Leases Retail Space At 2922 Northern Blvd, Queens
LEASEDRetail

Planet Fitness Leases Retail Space At 2922 Northern Blvd, Queens

2922 Northern BLVD, Queens, NY, 111...

Building Size

18,271 SF

Asset Type

Retail

Closing

Aug 7, 2015

AI

Located at 2922 Northern Blvd, Queens, NY, 111..., this retail property in Jackson Heights spans 18,271 square feet. The lease for this asset was finalized on 08/07/2015. The tenant, Planet Fitness, was represented by Richard Chera of Crown Acquisitions, while Simon Baron Development acted as the landlord.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Tenant: Planet Fitness
  • Tenant's Rep: Richard Chera (Crown Acquisitions)
  • Landlord: Simon Baron Development
  • Market: Jackson Heights

The collaboration between Richard Chera of Crown Acquisitions and Planet Fitness as the tenant, along with Simon Baron Development as the landlord, culminated in the successful lease agreement for this sizeable retail space. This transaction underscores the importance of competent representation in real estate dealings.

Players

Richard Chera

Crown Acquisitions

Broker

1 deal

Broker
M Development
M DevelopmentLandlord

Jackson Heights 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