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 availablePlayers
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