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555 Johnson Avenue

Eric Cohen Leases Industrial Space In Bushwick, Brooklyn
LEASEDIndustrial

Eric Cohen Leases Industrial Space In Bushwick, Brooklyn

555 Johnson Avenue & 555 Johnson Avenue, Brooklyn, New York 11237, United States

$39

$39/SF

Building Size

7,122 SF

Asset Type

Industrial

Closing

Sep 19, 2022

AI

An industrial space located at 555 Johnson Avenue in Bushwick, Brooklyn has been leased. The property, known as The Block, has been repurposed and offers a ground floor 'rarehouse' with tall ceilings. The neighborhood's Brooklyn cool atmosphere has attracted strong tenants who can make a significant impact in the area. The current tenants at The Block include Vans, Valrhona, New York Distilling Company, and Arcane Distilling. Vassla, a Swedish ebike manufacturer, will also be opening its first US showroom on the premises. The available spaces at The Block include 9,600 square feet and 22,310 square feet with 19' ceilings.

Summary of Transaction Details:

  • Property Type: Industrial
  • Transaction Date: September 19, 2022
  • Address: 555 Johnson Avenue, Bushwick, Brooklyn
  • Asking Rent: $39 per square foot
  • Square Footage: 3,561

Eric Cohen is the landlord of The Block and Corey Cohen & Amanda Bery from Roebling Group represent the landlord's interests. Luis Ramirez from Nomad Group represents the tenant in this lease. For more information about the property, please reach out to Corey Cohen at @mrcoreycohen.

Players

Luis Ramirez

Nomad Group

Broker

7 deals

Broker

Eric Cohen

Landlord

$241M

vol

7 deals

Landlord

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

406743.59%

Cash-on-Cash

-116248.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93