Astoria House Leases Retail Space At 31-07 31st Ave. In Astoria
31-07 31st Avenue, Queens, New York 11106, United States
Building Size
1,850 SF
Asset Type
Retail
Closing
Sep 14, 2022
AI
The retail property located at 31-07 31st Ave. in Astoria has been leased. The landlord, George Hrisikopoulos, entered into a lease agreement with Astoria House, represented by Sammy Munasser. The deal was facilitated by broker Costa Vryonides of The Bouklis Group. The property was listed with an asking rent of $75 per square foot, and the total square footage of the space is 1,850 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 09/15/2022
- Address: 31-07 31st Ave.
- Market: Astoria
- Landlord: George Hrisikopoulos
- Tenant: Astoria House - Sammy Munasser
- Broker: Costa Vryonides - The Bouklis Group
- Asking Rent: $75/ft.
- SF: 1,850
Costa Vryonides of The Bouklis Group played a key role as the broker in the lease transaction. The lease agreement between the landlord, George Hrisikopoulos, and the tenant, Astoria House represented by Sammy Munasser, was successfully negotiated. This deal highlights the vibrant retail market in Astoria.
Players
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