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48-18 Northern Boulevard, Q...

H Mart Leases Retail Space At Shops At Northern Blvd In Long Island City For $35/ft. NNN
LEASEDRetail

H Mart Leases Retail Space At Shops At Northern Blvd In Long Island City For $35/ft. NNN

48-18 Northern Boulevard, Queens, New York 11101, United States

$35

$35/SF

Building Size

63,525 SF

Asset Type

Retail

Closing

Nov 2, 2022

AI

The retail property located at 48-18 Northern Boulevard in Long Island City has been leased to H Mart. The property, known as the Shops at Northern Blvd, offers a total of 63,525 square feet of retail space. The transaction took place on November 2, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 11/02/2022
  • Address: 48-18 Northern Boulevard (Shops at Northern Blvd)
  • Market: Long Island City
  • Asking Rent: $35 per square foot (NNN)
  • Size: 63,525 square feet

Greyco, the landlord, represented by Jeremy Isaacs from Ripco Real Estate, leased the property to H Mart. H Mart was represented by Michelle Abramov and Greg Batista, also from Ripco Real Estate.

NOTE: no additional information available

Players

Michelle Abramov

Ripco

Broker

$64.9M

vol

26 deals

Broker
HM
H MartTenant

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

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93