Omni Management Group Leases Retail Space To Aldi Supermarket In Jamaica
92-23 168th Street
Building Size
17,655 SF
Asset Type
Retail
Closing
May 2, 2024
About this deal
AI
The retail property located at 92-23 168th Street in Jamaica, Queens, was leased to Aldi Supermarket in a Modified Gross Lease agreement. The lease rent for the 17,655 square feet space was set at $36 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $36/ft ~ SF: 17,655
- Address: 92-23 168th Street
- Market: Jamaica, Queens
- Landlord: Omni Management Group
- Tenant: Aldi Supermarket
- Broker: Greg Parassio - Booth Street
- Lease Type: Modified Gross Lease
Greg Parassio of Booth Street represented the landlord, Omni Management Group, in the leasing transaction with Aldi Supermarket. The deal marks a significant agreement in the retail space market of Jamaica, Queens.
On the Map
Retail
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Players
Jamaica 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
440638.89%
Cash-on-Cash
-125935.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93