Hazelton Capital Group And SB Development Lease Retail Space To Astra Hospitality For $105/ft In Long Island City
41-05 29th Street
$105
$105/SF
Building Size
2,407 SF
Asset Type
Retail
Closing
Apr 1, 2026
About this deal
AI
The property involved in this transaction is located at 41-05 29th Street in the Long Island City market. It is a retail asset with a total square footage of 2,407. The asking rent for this location is set at $105 per square foot, and the lease term is for 10 years. The lease type specified is a retail lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $105/ft
- Square Footage: 2,407
- Address: 41-05 29th Street
- Market: Long Island City
- Landlord: Hazelton Capital Group & SB Development
- Tenant: Astra Hospitality
- Landlord's Rep: Thomas Galo - RTL Real Estate
- Tenant's Rep: Victor Terzi - Isaacs & Company
- Lease Term: 10 years
- Lease Type: Retail Lease
The key individuals involved in this transaction include Thomas Galo, who represents the landlord, and Victor Terzi, who represents the tenant. Both brokers are associated with their respective agencies, RTL Real Estate and Isaacs & Company, facilitating this lease agreement between the parties.
On the Map
$105
$105/SF
Retail
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Players
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
151076.19%
Cash-on-Cash
-43178.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93