DII Deals & Discounts Leases Former Dressbarn Space In Rego Park, Queens
9524 63rd Rd, Rego Park, NY 11374, USA
Building Size
8,720 SF
Asset Type
Retail
Closing
Jul 12, 2020
About this deal
AI
A retail property located at 9524 63rd Road in Rego Park, Queens has been leased. The property consists of approximately 8,720 square feet and was previously occupied by Dressbarn. Dressbarn filed for bankruptcy in 2019. The new tenant for the property is DII Deals & Discounts. The landlord, Minskoff Grant Realty & Management Corp, represented by Jean Minskoff, has leased the space to DII Deals & Discounts. The leasing transaction was facilitated by Allie Beyda from Metropolitan Skyline Realty.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Asking Rent: $50-55 PSF
- Square Footage: 8,720 SF
- Address: 9524 63rd Road, Rego Park, Queens
- Tenant: DII Deals & Discounts
- Landlord: Minskoff Grant Realty & Management Corp
- Landlord Representative: Jean Minskoff
- Broker: Allie Beyda - Metropolitan Skyline Realty
- Note: Formerly occupied by Dressbarn, which filed for bankruptcy in 2019
Allie Beyda from Metropolitan Skyline Realty played a crucial role in facilitating the leasing transaction, representing both the landlord, Minskoff Grant Realty & Management Corp, and the tenant, DII Deals & Discounts. The deal marks a new chapter for the retail property located at 9524 63rd Road in Rego Park, Queens.
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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