Skybridge Restoration Acquires Retail Space In Astoria For $65/ft
32-62 Steinway Street
$65
$65/SF
Building Size
15,000 SF
Asset Type
Retail
Closing
Feb 2, 2023
AI
The retail property located at 32-62 Steinway Street in Astoria, New York City, has been leased. The property, spanning 15,000 square feet, was leased by Skybridge Restoration, NY State - Renzo Gracie. The landlord, Soundview Realty, enlisted the services of John Lagoudis from Realty Executives Today as their broker representative. The lease term for the property is set at 20 years.
Summary of transation details
- Property Type: Retail
- Asking Rent: $65/ft
- Square Footage: 15,000
- Lease Term: 20 years
- Landlord: Soundview Realty
- Tenant: Skybridge Restoration, NY State - Renzo Gracie
- Broker: John Lagoudis - Realty Executives Today
The lease agreement for the retail property was facilitated by John Lagoudis from Realty Executives Today, who represented the landlord, Soundview Realty. Skybridge Restoration, NY State - Renzo Gracie, will be the tenant for the next 20 years. This lease transaction marks a significant commitment for both parties involved.
Players
Market 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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93