Chris Winfrey Of Spectrum Cable Renews Lease For 200000 Square Foot Warehouse In Greenpoint Brooklyn
59 Paidge Avenue
Building Size
200,000 SF
Asset Type
Industrial
Closing
Jul 15, 2025
AI
The property asset involved in this transaction is a 200,000-square-foot industrial warehouse located at 59 Paidge Avenue in Greenpoint, Brooklyn. The asset operates in a competitive market, showcasing significant industrial capabilities for its tenant.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 59 Paidge Avenue
- Market: Greenpoint, Brooklyn
- Landlord: Joseph Lostritto & Glenn Lostritto - Steel Equities
- Tenant: Chris Winfrey - Spectrum Cable
- Lease Duration: 10 years
This deal is marked by the tenant, Chris Winfrey, representing Spectrum, a division of Charter Communications, which has opted to renew its lease. The renewal underscores the continued commitment of Spectrum to operate within this specific location for the next decade.
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