PDS NFP Leases 15,000 SF Office At 220 36th Street Brooklyn For $37/ft
220 36th Street
$37
$37/SF
Building Size
15,000 SF
Asset Type
Office
Closing
Oct 1, 2024
AI
The property involved in this transaction is an office asset located at 220 36th Street, Brooklyn. It features a total square footage of 15,000 and has an asking rent of $37 per square foot. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $37/ft ~ SF: 15,000
- Tenant: PDS NFP - Program of Development Services Headquarters and Day Program
- Landlord's Representative: Matthew Stewart – Industry City – Jamestown, Belvedere Capital, Angelo Gordon & Co
- Tenant's Representatives: Dina Bakalis - Colliers & Bobby Coulianidis - Besen Partners
This lease transaction was facilitated by representatives well-versed in the Brooklyn market. Matthew Stewart represented the landlord, while the tenant was represented by a team of brokers, Dina Bakalis and Bobby Coulianidis, ensuring a seamless transaction process for both parties.
Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
428729.73%
Cash-on-Cash
-122532.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93