Moises Ballinas Leases Restaurant In Long Island City For The Weiss Family
41-17 Crescent Street
$60
$60/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
May 20, 2024
About this deal
AI
The retail restaurant located at 41-17 Crescent Street in Long Island City was leased in a transaction involving The Weiss Family as the landlord and Moises Ballinas as the tenant. The property features 5,000 square feet with an asking rent of $60 per square foot and was leased under a Modified Gross Lease agreement.
Summary of transaction details:
- Property Type: Retail - Restaurant
- Transaction Amount: Not Applicable
- Address: 41-17 Crescent Street
- Market: Long Island City
- Landlord: The Weiss Family
- Tenant: Moises Ballinas
- Broker: Julio Reyes - Reyes & Elsamad
- Asking Rent: $60/ft
- Lease Type: Modified Gross Lease
Julio Reyes of Reyes & Elsamad represented the parties involved in the lease transaction, providing brokerage services for the deal between The Weiss Family and Moises Ballinas. The lease signifies a significant agreement between the landlord and tenant in the vibrant area of Long Island City.
Players
Long Island City 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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93