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57-16 99th Street

Olgam Life Signs 15-Year Lease For Retail Space In Corona
LEASEDRetail

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

Josh Augenbaum

Augenbaum Realty

Broker

$652.8M

vol

140 deals

Broker

LeFrak Family

Simon Property Group

Landlord

$155M

vol

2 deals

Landlord
OL
Olgam LifeTenant

Corona 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

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93