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:
- Property Type: Industrial
- Transaction Amount: Long-term lease
- Address: 2647 Stillwell Avenue
- Market: Gravesend, Brooklyn
- Landlord: Andrew Joblon - Turnbridge Equities
- Tenant: Judith Crawford - Beacon Mobility
- Brokers: Helen Paul, Gus Weaver & Rico Murtha - Cushman & Wakefield
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
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