111-26 Corona Avenue, Corona, NY, USA

Cell At Auction LLC is pleased to offer the opportunity to acquire  Verizon, T-Mobile and AT&T 99 year Site Lease easements in Corona, New York.  The property is across from Flushing Corona Park.  The Verizon lease was entered into October 6, 2019 and subsequently amended September 2020.  The rent commencement date was March 15, 2020 at an annual rent of $50,841.26 paid monthly with 3% annual increases.   The initial term was for five years with three (3) additional five year terms.  The current monthly rent is $5,959.20.   The T-Mobile lease commenced in 1996 as Omnipoint for 10 years with an additional three (3) five (5) year renewals.   The initial rent was $1,000 per month with 5% annual increases.  The amendments provided for some additional increases   The current monthly rent is $8,434.85.   The AT&T lease was entered into In October, 1995 at a monthly rent of $2,800.  The most recent fifth amendment was signed on September 6, 2019.   There has been a recent change in building ownership and the current lease has expired.   This provides an opportunity for the easement purchaser to negotiate the new terms with AT&T.   There have been 3% annual increases.   The current monthly rent is $5,722.55.   There are no ROFR’S.

The Property address is: 111-26 Corona Ave. Corona, NY 11368

Sealed Bid Deadline:  April 23, 2025

Current Annual Rent:    $239,522.76   

Burton Blinick, Licensed Illinois Real Estate Managing Broker and Auctioneer in Cooperation with Israel Fisher, License New York Broker.