Kelly Biscuso Of Phipps Houses Leases Community Facility To The Q Studio Lab For $50/ft
50-25 Barnett Avenue
$50
$50/SF
Building Size
5,268 SF
Asset Type
Retail
Closing
May 5, 2026
About this deal
AI
The asset involved in this transaction is a community facility located at 50-25 Barnett Avenue in the Sunnyside market. The property encompasses a total area of 5,268 square feet with an asking rent of $50 per square foot. This lease is structured as a Single Net Lease.
Summary of transaction details:
- Property Type: Community Facility
- Transaction Amount: $263,400
- Landlord: Kelly Biscuso - Phipps Houses
- Tenant: The Q Studio Lab
- Brokers: Luca DiCiero & Jonathan Cazull - NY Space Finders
- Lease Type: Single Net Lease
In this transaction, Kelly Biscuso represents the landlord, Phipps Houses, while The Q Studio Lab is the tenant secured through the efforts of brokers Luca DiCiero and Jonathan Cazull from NY Space Finders. The lease arrangement reflects a strategic decision in the Sunnyside market.
On the Map
$50
$50/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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93