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
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93