Cresilon Leases Mixed-Use Space At 220 36th Street Brooklyn From Industry City For 10 Years
220 36th Street
$36
$36/SF
Building Size
55,000 SF
Asset Type
Mixed-use
Closing
May 29, 2025
About this deal
AI
A mixed-use asset located at 220 36th Street in Brooklyn has recently been leased, featuring a total square footage of 55,000. The asking rent for this property was set at $36 per square foot. The lease agreement consists of a single net lease with a term of 10 years.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $36/ft
- Lease Term: 10 years
- Lease Type: Single Net Lease
- Address: 220 36th Street
- Market: Brooklyn
- Landlord: Industry City
- Tenant: Cresilon
- Landlord's Rep: Jeff Fein - Industry City
- Tenant's Rep: Joshua Pernice - CBRE
The transaction involved key representatives including Jeff Fein, who represented the landlord, Industry City, and Joshua Pernice, who acted on behalf of the tenant, Cresilon, through CBRE. Their roles were crucial in facilitating this lease agreement in the mixed-use market of Brooklyn.
On the Map
$36
$36/SF
Mixed-use
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Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
440638.89%
Cash-on-Cash
-125935.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93