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33-20 55th St Queens, NY 11...

Updated Oct 29, 2024

Rolling Hero Leases Retail Space In Queens For $52/ft With NY Space Finders As Brokers
LEASEDRetail

Rolling Hero Leases Retail Space In Queens For $52/ft With NY Space Finders As Brokers

33-20 55th St Queens, NY 11377, USA

$52

$52/SF

Building Size

1,700 SF

Asset Type

Retail

Closing

Aug 11, 2023

About this deal

AI

The retail property located at 33-20 55th Street in Queens has been leased. The property, spanning 1,700 square feet, was leased for a 5-year term with an option to renew for an additional 5 years. The landlord, Spyro Avdoulos, entered into the lease agreement with Rolling Hero, owned by Amro Abdelhalim and Mohamed Shaaban. The deal was facilitated by brokers Luca DiCiero and Devin Navarro of NY Space Finders. The agreed asking rent for the property was $52 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Address: 33-20 55th Street, Queens
  • Tenant: Rolling Hero - Amro Abdelhalim & Mohamed Shaaban
  • Landlord: Spyro Avdoulos
  • Brokers: Luca DiCiero & Devin Navarro - NY Space Finders
  • Asking Rent: $52/ft
  • Lease Term: 5 years plus 5 years option

The lease agreement for the retail property at 33-20 55th Street in Queens involved Rolling Hero, a business owned by Amro Abdelhalim and Mohamed Shaaban. The property was leased from landlord Spyro Avdoulos, with the deal negotiated by brokers Luca DiCiero and Devin Navarro of NY Space Finders. The lease term is set for 5 years, with the option to renew for an additional 5 years. The agreed asking rent for the 1,700 square foot space was $52 per square foot.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Spyro Avdoulos

Landlord

$13.4M

vol

6 deals

Landlord

Woodside Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $52 per square foot on a published $52 for 1,700 square feet (2023).

Visit Devin Navarro to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

305057.69%

Cash-on-Cash

-87186.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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