Jhoan Estupinan Leases Retail Space At 33-04 Broadway, Astoria For 10 Years
33-04 Broadway
$100
$100/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Jul 11, 2024
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.
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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93