Prestige Marketplace Leases Retail Space At 4545 Center Blvd, Queens With TF Cornerstone
4545 Center BLVD, Queens, NY, 11109
Building Size
2,967 SF
Asset Type
Retail
Closing
Oct 18, 2021
AI
The retail property at 4545 Center BLVD in Long Island City, Queens, NY, 11109, spanning 2967 square feet, was recently leased. The landlord, TF Cornerstone, finalized the lease agreement with Prestige Marketplace. The transaction was facilitated by Lee Block of Winick Realty Group, representing the landlord in the deal.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 4545 Center BLVD, Long Island City, Queens, NY, 11109
- Market: Long Island City
- Landlord: TF Cornerstone
- Tenant: Prestige Marketplace
- Square Feet: 2967
- Landlord's Rep: Lee Block (Winick Realty Group)
The lease involved Prestige Marketplace as the tenant entering into an agreement with TF Cornerstone, the property's landlord. Lee Block of Winick Realty Group acted as the landlord's representative during the negotiation and finalization of the lease for the retail space located at 4545 Center BLVD in 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93