Updated Oct 23, 2026
SOLDIndustrial
Gary Spindler And Orin Portnoy Acquire Bushwick Industrial Building For $7.6M
1182 Flushing Avenue
$7,600,000
$174/SF
Building Size
43,600 SF
Asset Type
Industrial
Closing
Sep 30, 2026
About this deal
AI
A 43,600-square-foot industrial building located at 1182 Flushing Avenue in Bushwick, Brooklyn, was sold for $7.6 million. The property boasts a total buildable space of 76,000 square feet, with a price per square foot of $174 and a price per buildable square foot of $100.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,600,000
- Address: 1182 Flushing Avenue
- Market: Bushwick, Brooklyn
- Square Footage: 43,600
- Total Buildable Space: 76,000
- Price per Square Foot: $174
- Price per Buildable Square Foot: $100
- Buyer: Gary Spindler - Park-It Management & Orin Portnoy
Gary Spindler represents Park-It Management in the transaction alongside Orin Portnoy, who were involved in securing the purchase of this industrial asset.
On the Map
$7,600,000
$174/SF
Industrial
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Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93