Phantastic Onsale Inc. Leases Retail Space At 8989 Union Turnpike Forest Hills
8989 Union Turnpike, Forest Hills, NY 11375
Building Size
7,482 SF
Asset Type
Retail
Closing
Jul 1, 2020
About this deal
AI
Phantastic Onsale Inc. (Dollar Store) has leased a retail space located at 8989 Union Turnpike in Forest Hills. The property spans a total of 7,482 square feet and was leased at an asking rent of $47 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 07/01/2021
- Address: 8989 Union Turnpike
- Market: Forest Hills
The tenant was represented by Michelle Abramov and Joseph Mastov of Asset Commercial Realty Group, while the landlord, The Stop & Shop Supermarket Company, was represented by George Skaliarinis and Mark Gallucci of Sabre.
Players
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