Target Park Leases Retail Space At 92-77 Queens Boulevard In New York City
92-77 Queens Blvd Rego Park, NY 11374, USA
$9
$9/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
Apr 18, 2023
About this deal
AI
The retail property located at 92-77 Queens Boulevard in New York City has recently been leased. The asset, spanning 20,000 square feet, is owned by Target Park US Inc. and will be occupied by Target Park as the tenant. The lease agreement specifies an asking rent of $9 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 92-77 Queens Boulevard, New York City
- Market: New York City
- Landlord: Target Park US Inc.
- Tenant: Target Park
- Asking Rent: $9 per square foot
- Size: 20,000 square feet
This lease deal was brokered by Target Park's representative, further solidifying their presence in the retail market in New York City. The agreement indicates the landlord's confidence in Target Park as a tenant and highlights the demand for retail properties in the area. This transaction contributes to the ongoing growth and development of the commercial real estate sector in New York City.
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
1762555.56%
Cash-on-Cash
-503743.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93