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70-09 Austin Street, Queens...

Forest Hills Property Group Leases Retail Space On Austin Street To CBD Kratom
LEASEDRetail

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

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.

Players

George Skaliarinis

Kassin Sabbagh Realty

Broker

$7M

vol

55 deals

Broker
CK
CBD KratomTenant

New York 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