Updated Oct 29, 2024
Park Pro Systems Leases Industrial Space In Sunset Park, Brooklyn
5200 1st Ave, Brooklyn, NY 11232, USA
Building Size
24,040 SF
Asset Type
Industrial
Closing
Sep 2, 2020
About this deal
AI
A lease transaction has taken place in Sunset Park, Brooklyn. The industrial property located at 5200 1st Ave was involved in this deal. The tenant, Park Pro Systems, will be occupying the space. The landlord in this transaction is Jonathan Luhrs. The leasing was facilitated by broker Jacob Stavsky from VCPRE.
Summary of transaction details
- Property Type: Industrial
- Transaction Date: 09/03/2020
- Asking Rent: $10 per square foot
- Square Footage: 24,040
- Address: 5200 1st Ave, Sunset Park, Brooklyn
This lease deal was successfully brokered by Jacob Stavsky from VCPRE, representing the tenant Park Pro Systems. The property owner, Jonathan Luhrs, agreed to lease the industrial space at an asking rent of $10 per square foot. The transaction took place on 09/03/2020.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93