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8 Court Square

NY Partners In Health Leases Retail Space At 8 Court Square From Werwaiss Properties
LEASEDRetail

NY Partners In Health Leases Retail Space At 8 Court Square From Werwaiss Properties

8 Court Square, 8 Court Square, 8 Court Square, 8 Court Square & 8 Court Square

$150

$150/SF

Building Size

6,100 SF

Asset Type

Retail

Closing

Mar 4, 2025

AI

The retail asset located at 8 Court Square in Long Island City was leased at an asking rent of $150 per square foot. The total square footage of the leased space is 6,100, consisting of 991 square feet on the ground level and 5,109 square feet on the lower level. The landlord for this property is Werwaiss Properties, and the tenant is NY Partners in Health.

Summary of transaction details:

  • Property Type: Retail Lease
  • Transaction Amount: $150/ft
  • Address: 8 Court Square
  • Market: Long Island City
  • Landlord: Werwaiss Properties
  • Tenant: NY Partners in Health
  • Square Footage: 6,100 SF (Ground: 991 SF, Lower Level: 5,109 SF)
  • Brokers: Thomas Galo & Steven E. Baker - RTL Real Estate

Thomas Galo and Steven E. Baker represented both the landlord, Werwaiss Properties, and the tenant, NY Partners in Health in this leasing transaction. RTL has successfully leased to five tenants at this location since 2023, including notable establishments such as Wells Fargo, Warby Parker, USWOO Realty, and Matsunori Handroll Bar.

Players

Thomas Galo

RTL Real Estate

Broker

12 deals

Broker
RTL Real Estate
RTL Real EstateBrokerage

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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93