Building Size
15,000 SF
Asset Type
Office
Closing
Oct 1, 2024
About this deal
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:
- 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