Bright Daycare Center Leases Retail Space In Hunter's Point, LIC With @ASSETCRG's Michelle Abramov And Joe Mast

The retail property at 47-09 5th Street in Hunter's Point, LIC, Queens, has been leased to Bright Daycare Center. The lease term is for 10 years, and the space covers 3,770 square feet of usable area within a total of 4,200 square feet. The price per square foot is $70, resulting in a transaction value of approximately $294,000.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $294,000
• Date: 10/10/18
• Address: 47-09 5th Street, LIC, NY
• Tenant: Bright Daycare Center
• Landlord: Steve Tall
• Landlord & Tenant Broker: Joe Mast and Michelle Abramov from AssetCRG
• Term: 10 years
• SF: 4,200
• PPSF: $70
• Usable SF: 3,770

Joe Mast and Michelle Abramov from AssetCRG represented both the landlord and the tenant in this lease deal. It is worth noting that the tenant is actively searching for additional spaces in LIC, Forest Hills, and Williamsburg, and is being represented by AssetCRG. Eastern had the initial exclusive, but when they closed down, AssetCRG took over the leasing at the property.