Target Leases 135,000 SF Retail Space At 61-35 Junction Boulevard For 15 Years
61-35 Junction Boulevard
Building Size
135,000 SF
Asset Type
Retail
Closing
Jun 30, 2026
AI
The asset involved in this transaction is a retail property located at 61-35 Junction Boulevard in Rego Park, featuring a total square footage of 135,000. The lease agreement spans a duration of 15 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 61-35 Junction Boulevard
- Market: Rego Park
- Landlord: Steven Roth - Alexander's Inc.
- Tenant: Michael Fiddelke - Target
- Landlord's Representative: Daniel D. Pasquale, Michael Peguero & Sean Philipps - Katz & Associates Real Estate Advisors
- Tenant's Representative: Benjamin Weiner & Jeffrey Howard - Ripco
This transaction highlights the representatives involved, with the landlord being represented by Daniel D. Pasquale, Michael Peguero, and Sean Philipps from Katz & Associates Real Estate Advisors, while the tenant is represented by Benjamin Weiner and Jeffrey Howard from Ripco.
Players
Boulevard 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