Olgam Life Signs 15-Year Lease For Retail Space In Corona
57-16 99th Street
$40
$40/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Dec 21, 2022
AI
A retail space located at 57-16 99th Street in Corona has been leased. The property, with a size of 10,000 square feet, was leased by Olgam Life. The lease term is 15 years, and the asking rent was set at $40 per square foot. The landlord of the property is Lefrak Family.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 57-16 99th Street
- Market: Corona
- Lease Term: 15 years
- Tenant: Olgam Life
- Asking Rent: $40 per square foot
Mitzi Flexer from Cushman & Wakefield and Ryan Feldman from Alliance Retail Development represented the landlord, Lefrak Family, in the deal. On the tenant's side, Josh Augenbaum from Augenbaum Realty Corp acted as the representative for Olgam Life.
Players
Corona Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93