Updated Oct 27, 2026
LEASEDIndustrial
CITIBIN Leases 15,000 Square Feet At Industry City In Brooklyn
4014 1st Avenue
Building Size
15,000 SF
Asset Type
Industrial
Closing
Oct 26, 2026
About this deal
AI
The asset involved in this transaction is an industrial property located at 4014 1st Avenue, Brooklyn, with a total square footage of 15,000. This space has been leased to Citibin, a manufacturer focused on trash, recycling, and compost enclosures. The lease was finalized within the market of Brooklyn, specifically at Industry City.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Location: 4014 1st Avenue, Brooklyn
- Square Footage: 15,000
- Landlord: Industry City
- Tenant: Citibin
Citibin has expanded its operations significantly by tripling its warehouse and office footprint at Industry City, demonstrating a strategic move to accommodate its growing business needs.
On the Map
Industrial
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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