Forest Hills Property Group Leases Retail Space On Austin Street To CBD Kratom
70-09 Austin Street, Queens, New York 11375, United States
Building Size
1,600 SF
Asset Type
Retail
Closing
Jun 16, 2022
About this deal
AI
The retail property located at 70-09 Austin Street in Forest Hills has been leased. The property, with a total square footage of 1,600, was leased by CBD Kratom. The landlord, Forest Hills Property Group represented by Joel Mandel, facilitated the lease transaction. The leasing process was handled by George Skaliarinis of KSR brokerage, who represented the tenant.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Lease
- Address: 70-09 Austin Street
- Market: Forest Hills
Joel Mandel, representing Forest Hills Property Group, acted as the landlord for the leased property. CBD Kratom, the tenant, secured the lease. George Skaliarinis of KSR brokerage served as the broker representing CBD Kratom in the transaction.
On the Map
Retail
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Players
Queens 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93