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31-07 31st Avenue, Queens, ...

Astoria House Leases Retail Space At 31-07 31st Ave. In Astoria
LEASEDRetail

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

Costa Vryonides

The Bouklis Group

Broker

$1.4M

vol

2 deals

Broker

George Hrisikopoulos

Landlord

$3.5M

vol

2 deals

Landlord

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