Alan Richer Leases Retail Space At 38-01 31st Avenue Astoria To Myo Thway For $75/ft
38-01 31st Avenue
$75
$75/SF
Building Size
1,800 SF
Asset Type
Retail
Closing
May 10, 2026
AI
The property asset involved in the transaction is a retail space located at 38-01 31st Avenue in Astoria. The lease is structured as a Single Net Lease, with an asking rent of $75 per square foot for a total area of 1,800 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $135,000
- Address: 38-01 31st Avenue
- Market: Astoria
- Landlord: Alan Richer
- Tenant: Myo Thway
- Brokers: Luca DiCiero, Nicholas Evangelista & Giuseppe Gregorio - NY Space Finders
Key individuals involved in this lease transaction include the landlord, Alan Richer, and the tenant, Myo Thway. The representation for this deal was provided by brokers Luca DiCiero, Nicholas Evangelista, and Giuseppe Gregorio from NY Space Finders.
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93