Annie Lin Leases Retail Space To Timeless Retreat Spring Beauty Spa At 31-64 Steinway Street
31 64 Steinway Street
$144,000
$144,000/SF
Building Size
1,800 SF
Asset Type
Retail
Closing
Jun 16, 2025
AI
The retail asset at 31-64 Steinway Street in Astoria involves a lease transaction. The property encompasses a total of 1,800 square feet, with an asking rent of $85 per square foot. The lease term is set for 10 years under a modified gross lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $153,000
- Landlord: Annie Lin
- Tenant: Timeless Retreat Spring Beauty Spa
- Broker: Frank Ko
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Date of Transaction: 6/17/2025
Frank Ko represented the landlord, Annie Lin, in this lease transaction. The involvement of Frank Ko highlights the importance of professional brokerage services in securing properties within the retail market segment.
Players
Astoria 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
110.16%
Cash-on-Cash
-31.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93