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555 Johnson Avenue

Millwright Leases Industrial Space At 555 Johnson Avenue In Bushwick With Brokers Corey Cohen, Amanda Bery, John Burnham & Joseph Callaway - Valkyrie Commercial
LEASEDIndustrial

Millwright Leases Industrial Space At 555 Johnson Avenue In Bushwick With Brokers Corey Cohen, Amanda Bery, John Burnham & Joseph Callaway - Valkyrie Commercial

555 Johnson Avenue

$39

$39/SF

Building Size

9,600 SF

Asset Type

Industrial

Closing

Mar 1, 2023

AI

The industrial property located at 555 Johnson Avenue in Bushwick has been leased. The landlord, Eric Cohen, has secured a tenant called Millwright for this 9,600 square foot space. The lease was facilitated by brokers Corey Cohen, Amanda Bery, John Burnham, and Joseph Callaway of Valkyrie Commercial.

Summary of transaction details

  • Property Type: Industrial
  • Asking Rent: $39/ft
  • Square Footage: 9,600
  • Address: 555 Johnson Avenue, Bushwick
  • Market: Bushwick

The Block in Bushwick has become a sought-after location for repurposed industrial spaces. The ground floor of this 'rarehouse' offers tall ceilings, attracting tenants who appreciate the neighborhood's Brooklyn cool vibe. The property already has notable tenants such as Vans, Valrhona, New York Distilling Company, Vassla, and Arcane Distilling. There are additional opportunities available at @theblockbk, including a 6,200 square foot space, a 22,310 square foot space, and a 22,310 square foot roof deck. For more information, interested parties can contact @mrcoreycohen.

Players

Corey Cohen

Broker

5 deals

Broker

Eric Cohen

Landlord

$241M

vol

7 deals

Landlord

Market 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

406743.59%

Cash-on-Cash

-116248.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93