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59 Paidge Avenue

Chris Winfrey Of Spectrum Cable Renews Lease For 200000 Square Foot Warehouse In Greenpoint Brooklyn
LEASEDIndustrial

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

SE
Steel EquitiesLandlord

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