22-18 Jackson Ave
Long Island City, NY 11101
F45 & Pediatrics Tenant (Retail Condos) · Multifamily Property For Sale · 182 Units

Marcus & Millichap is pleased to present 22-18 Jackson Avenue, two tenant retail condos located on the ground floor a newly developed condo building in Long Island City, New York. The subject property is comprised of 4,778 square foot of gross leasable area and located in the heart of Long Island City, a short walk from New York City’s 7, G, M, & E subway lines, the Long Island Rail Road, and I-495. F45 Fitness signed an initial ten (10) year lease with one (1) five (5) year option and Pediatrics Associates of New York City signed an initial fifteen (15) year lease with one (1) five (5) year option. The tenants occupy the entire lower-level of the Galerie, a luxury 182-unit residential condominium complex that was recently completed in 2020. Each tenant is responsible for their utilities and common area maintenance; with the landlord being responsible for taxes and roof and structure. Landlord has received a 15-Year ICAP Tax Abatement for the commercial space and will seek credit for savings upon sale. Each tenant will also pay for a percentage of any tax increase over the base year term. Jackson Avenue is a bustling street just off of I-495 (Long Island Expressway) that sees over 17,000 vehicles per day. The subject property is nestled between myriad national retailers like Chipotle, Chase Bank, BP Gas, Starbucks and Dunkin', that create steady car and foot traffic in the surrounding area. Additional information is available upon request.