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:
- Property Type: Retail
- Transaction Amount: $75/ft
- Square Footage: 3,421
- Address: 32-02 Queens Boulevard
- Market: Long Island City
- Landlord: Related & Greenfield Partners
- Tenant: Cafeteria Marketplace
- Landlord's Rep: Brian Krakower, Scott Rothstein & Greg Batista - Ripco
- Tenant's Rep: Josh Sarraf - ARA
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
Long Island City Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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