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32-02 Queens Boulevard

Cafeteria Marketplace Signs Lease At 32-02 Queens Boulevard In Long Island City
LEASEDRetail

Cafeteria Marketplace Signs Lease At 32-02 Queens Boulevard In Long Island City

32-02 Queens Boulevard

$75

$75/SF

Building Size

3,421 SF

Asset Type

Retail

Closing

Jan 2, 2025

AI

The asset involved in this transaction is a retail space located at 32-02 Queens Boulevard in Long Island City. The lease type is a Modified Gross Lease, with an asking rent of $75 per square foot for a total of 3,421 square feet. The landlords are Related and Greenfield Partners.

Summary of transaction details:

This transaction involved key representatives, including Brian Krakower, Scott Rothstein, and Greg Batista from Ripco, representing the landlords, and Josh Sarraf from ARA, representing the tenant, Cafeteria Marketplace.

Players

Greg Batista

Broker

$33.9M

vol

8 deals

Broker

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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93