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41-17 Crescent Street

Moises Ballinas Leases Restaurant In Long Island City For The Weiss Family
LEASEDRetail

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

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

Julio Reyes

Broker

$32.9M

vol

13 deals

Broker

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