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154 Morgan Ave Brooklyn, NY...

Urban Umbrella Leases Industrial Space At 154 Morgan Avenue, New York City
LEASEDIndustrial

Urban Umbrella Leases Industrial Space At 154 Morgan Avenue, New York City

154 Morgan Ave Brooklyn, NY 11237, USA

$35

$35/SF

Building Size

22,100 SF

Asset Type

Industrial

Closing

May 1, 2023

AI

The industrial property located at 154 Morgan Avenue in New York City has been leased in a transaction involving the landlord Terreno Realty Group and sublandlord AxleHire. The tenant for this lease is Urban Umbrella, represented by Benjamin Krall. The landlord's representatives in this deal are Helen Paul, Rico Murtha, and Sonny Singh from Cushman & Wakefield. Adelaide Polsinelli and Lauren Curcio from Compass act as the tenant's representatives.

Summary of transaction details

  • Property Type: Industrial
  • Asking Rent: $35/ft
  • Square Footage: 22,100
  • Date: 05/01/2023
  • Address: 154 Morgan Avenue
  • Market: New York City

The deal involves the lease of the industrial property located at 154 Morgan Avenue. The asking rent for this property is $35 per square foot, with a total square footage of 22,100. The transaction took place on 05/01/2023 in the market of New York City.

The key individuals involved in this lease deal are Benjamin Krall, who represents the tenant Urban Umbrella, and the landlord's representatives Helen Paul, Rico Murtha, and Sonny Singh from Cushman & Wakefield. Adelaide Polsinelli and Lauren Curcio from Compass act as the tenant's representatives in this transaction.

Players

Adelaide Polsinelli

Compass

Broker

$285M

vol

26 deals

Broker
Terreno Realty Corporation
Terreno Realty CorporationLandlord

New York Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93