Kelly Biscuso Of Phipps Houses Leases Community Facility To The Q Studio Lab For $50/ft

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.