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
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