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59 Paidge Ave Brooklyn, NY ...

Updated Oct 29, 2024

NYC Fire Department Secures Deal For 35,000 Sqft Truck Service Center In Greenpoint, Brooklyn
LEASEDIndustrial

NYC Fire Department Secures Deal For 35,000 Sqft Truck Service Center In Greenpoint, Brooklyn

59 Paidge Ave Brooklyn, NY 11222, USA

$20

$20/SF

Building Size

35,000 SF

Asset Type

Industrial

Closing

Jul 18, 2023

About this deal

AI

The New York City Fire Department has secured a deal to maintain its 35,000-square-foot truck service center at 59 Paidge Avenue in Greenpoint, Brooklyn. The industrial property will continue to serve as a crucial facility for the city's firefighting operations.

Summary of transaction details

  • Property Type: Industrial
  • Asking Rent: $20 per square foot
  • Square Footage: 35,000
  • Address: 59 Paidge Avenue, Greenpoint, Brooklyn
  • Market: Greenpoint, Brooklyn

This lease agreement signifies the commitment of the New York City Fire Department to maintain its truck service center in Greenpoint, Brooklyn. The securement of this deal ensures the continuity of essential firefighting services in the area. The facility at 59 Paidge Avenue will continue to support the city's fire department in their ongoing efforts to protect the community.

Players

New York Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Deal FAQ

About $20 per square foot on a published $20 for 35,000 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

793150.00%

Cash-on-Cash

-226684.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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