Jemstone Group Leases Retail Space To Your Highness At 46-23 Greenpoint Avenue For $140/ft
46-23 Greenpoint Avenue
$140
$140/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Oct 19, 2026
About this deal
AI
The property involved in this transaction is a retail space located at 46-23 Greenpoint Avenue in the Sunnyside market. The asset encompasses a total square footage of 1,500, with an asking rent of $140 per square foot. The lease is structured as a Modified Gross Lease and has been established for a term of 10 years.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $210,000
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Jemstone Group
- Tenant: Your Highness
- Landlord's Representative: Moshe Akiva - Momentum Realty Group
- Tenant's Representative: Victor Safenia - Momentum Realty Group
This transaction highlights the involvement of Jemstone Group as the landlord and Your Highness as the tenant, with Moshe Akiva and Victor Safenia representing their respective sides from Momentum Realty Group. The lease agreement signifies a commitment between the parties for a decade-long tenure at the specified location.
On the Map
$140
$140/SF
Retail
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Players
Sunnyside 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
113307.14%
Cash-on-Cash
-32383.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93