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
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