Winick Realty Group Leases Retail Spaces In Long Island City For Uswoo Realty
8 Court Square
$110
$110/SF
Building Size
3,001 SF
Asset Type
Retail
Closing
Feb 22, 2024
AI
The retail property located at 8 Court Square in Long Island City was leased out to Uswoo Realty. The space features a 2,506 square foot area with an asking rent of $110 per square foot. The property is part of a retail building in a prime location.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 8 Court Square
- Market: Long Island City
- Landlord: Werwaiss Properties, In Partnership With Rose Associates
- Tenant: Uswoo Realty
- Brokers: Steven E. Baker & Thomas Galo - Winick Realty Group
- Lease Type: Modified Gross Lease
Steven E. Baker and Thomas Galo from Winick Realty Group represented both the landlord, Werwaiss Properties in partnership with Rose Associates, and the tenant, Uswoo Realty, in this lease transaction. The property offers a 5,109 square foot lower-level area with a 991 square foot private ground floor entrance on 44th Drive, ideal for a boutique fitness concept. Additionally, there is a 1,245 square foot space on Thomson Avenue overlooking Court Square Park, suited for a café or similar tenant.
Players
Long Island City 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
144209.09%
Cash-on-Cash
-41215.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93