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33-04 Broadway

Updated Dec 4, 2024

Jhoan Estupinan Leases Retail Space At 33-04 Broadway, Astoria For 10 Years
LEASEDRetail

Jhoan Estupinan Leases Retail Space At 33-04 Broadway, Astoria For 10 Years

33-04 Broadway

Building Size

1,100 SF

Asset Type

Retail

Closing

Jul 11, 2024

About this deal

AI

The retail property located at 33-04 Broadway in Astoria was leased in a transaction involving Spyros Markos as the landlord and Jhoan Estupinan as the tenant. The lease was facilitated by Steve Lelekidis from Modern Spaces, with an asking rent of $100 per square foot for a 10-year term, covering 1,100 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 33-04 Broadway
  • Market: Astoria
  • Landlord: Spyros Markos
  • Tenant: Jhoan Estupinan
  • Broker: Steve Lelekidis - Modern Spaces
  • Asking Rent: $100/ft
  • Lease Term: 10 years

The deal was successfully closed with Steve Lelekidis of Modern Spaces playing a crucial role in representing both the landlord and the tenant. This lease agreement signifies a long-term commitment between the parties involved, setting the stage for a sustainable retail presence at the prime location in Astoria.

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Players

Steve Lelekidis

Modern Spaces

Broker

$20.2M

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Astoria Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $100 per square foot for 1,100 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

158630.00%

Cash-on-Cash

-45336.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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