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2647 Stillwell Avenue

Turnbridge Equities Leases 83000 Square Feet To Beacon Mobility In Gravesend Brooklyn
LEASEDIndustrial

Turnbridge Equities Leases 83000 Square Feet To Beacon Mobility In Gravesend Brooklyn

2647 Stillwell Avenue

Building Size

83,000 SF

Asset Type

Industrial

Closing

Jun 30, 2025

AI

The asset involved in the transaction is an industrial property located at 2647 Stillwell Avenue in the Gravesend neighborhood of Brooklyn. The property encompasses 83,000 square feet of outdoor industrial space. This lease transaction is situated in a market characterized by its industrial facilities catering to various businesses.

Summary of transaction details:

Key individuals involved in this transaction include Andrew Joblon representing Turnbridge Equities, which is the landlord for the lease, and Judith Crawford representing Beacon Mobility, the tenant. The transaction was brokered by Helen Paul, Gus Weaver, and Rico Murtha from Cushman & Wakefield, who facilitated the agreement for the long-term lease.

Players

Rico Murtha

Cushman & Wakefield

Broker

$80M

vol

6 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
Andrew Joblon

Andrew Joblon

Turnbridge Equities

Landlord

$1.2B

vol

11 deals

Landlord
Turnbridge Equities
Turnbridge EquitiesLandlord
Judith Crawford

Judith Crawford

Beacon Mobility

Tenant

1 deal

Tenant
Beacon Mobility
Beacon MobilityTenant

Brooklyn 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93