facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

4218 31st Avenue, Astoria, ...

Kallie Pappas Leases Retail Space At 4218 31st Ave. In Astoria, With Luca Di Ciero Of NYSpaceFinders
LEASEDRetail

Kallie Pappas Leases Retail Space At 4218 31st Ave. In Astoria, With Luca Di Ciero Of NYSpaceFinders

4218 31st Avenue, Astoria, NY 11103

Building Size

1,250 SF

Asset Type

Retail

Closing

Apr 28, 2021

AI

The retail property located at 4218 31st Ave. in Astoria has recently been leased. The transaction was facilitated by broker Luca Di Ciero from NYSpaceFinders. The tenant, Kallie Pappas, will be occupying the space, while the landlord is Larry Cerullo. The retail asset spans across 1,250 square feet and was listed for an asking rent of $43.20 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 4218 31st Ave.
  • Market: Astoria
  • Tenant: Kallie Pappas
  • Landlord: Larry Cerullo
  • Broker: Luca Di Ciero - NYSpaceFinders
  • Asking Rent: $43.20/ft.
  • Square Footage: 1,250

The deal highlights the successful collaboration between tenant Kallie Pappas, landlord Larry Cerullo, and Luca Di Ciero from NYSpaceFinders. The retail space located at 4218 31st Ave. in Astoria provides an opportunity for Kallie to establish her business in a prime location. With an asking rent of $43.20 per square foot, the lease agreement offers a favorable opportunity for both parties involved.

Players

Luca DiCiero

NY Space Finders

Broker

$124.3M

vol

151 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93