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
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