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30-30 47th Avenue, Queens, ...

Metergy Solutions Signs Seven-Year Retail Lease At 30-30 47th Avenue In Long Island City, Queens With Landlord Atlas Capital Group, Invesco Real Estate & Partners Group
LEASEDRetail

Metergy Solutions Signs Seven-Year Retail Lease At 30-30 47th Avenue In Long Island City, Queens With Landlord Atlas Capital Group, Invesco Real Estate & Partners Group

30-30 47th Avenue, Queens, New York 11101, United States

$42

$42/SF

Building Size

12,702 SF

Asset Type

Retail

Closing

Nov 16, 2022

AI

The retail property located at 30-30 47th Avenue in Long Island City, Queens has been leased. The asset, consisting of 12,702 square feet, was leased by Metergy Solutions. The lease terms are for a period of seven years. The landlord of the property is Atlas Capital Group, Invesco Real Estate & Partners Group. The leasing process was facilitated by broker Brian Waterman from Newmark. The asking rent for the property was $42 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 30-30 47th Avenue, Long Island City, Queens
  • Square Footage: 12,702
  • Tenant: Metergy Solutions
  • Lease Terms: Seven-year lease
  • Landlord: Atlas Capital Group, Invesco Real Estate & Partners Group
  • Broker: Brian Waterman - Newmark
  • Asking Rent: $42 per square foot

The lease transaction for the retail property at 30-30 47th Avenue was completed with the involvement of Metergy Solutions as the tenant. The leasing process was facilitated by Brian Waterman from the Newmark agency. Atlas Capital Group, Invesco Real Estate & Partners Group served as the landlords for the property.

Players

Brian Waterman

Newmark

Broker

$300.4M

vol

32 deals

Broker
Invesco Real Estate
Invesco Real EstateLender
Invesco Real Estate
Invesco Real EstateLandlord

Long Island City 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

377690.48%

Cash-on-Cash

-107945.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93