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8 Court Square

Winick Realty Group Leases Retail Spaces In Long Island City For Uswoo Realty
LEASEDRetail

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

Jeff Winick

RTL Real Estate

Broker

$2.2M

vol

10 deals

Broker

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