Staged To Sell Home Signs Seven-Year Lease For 24000 Square Feet In Brooklyn's Industry City
220 36th Street
Building Size
24,000 SF
Asset Type
Office
Closing
Nov 4, 2024
About this deal
AI
The property asset involved in the transaction is an office space located at 220 36th Street in Brooklyn's Industry City. The total square footage of the asset is 24,000 square feet. The lease agreement is part of the Brooklyn market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Term: Seven-years
- Landlord: Jamestown; Belvedere Capital; Jack Bojman - Cammeby’s International; FBE Limited; Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon
- Tenant: Jason Saft - Staged To Sell Home
- Tenant's Representative: Noah Jay - Compass
The deal involved multiple landlords, including Jamestown and Belvedere Capital, among others. Jason Saft represents the tenant, Staged To Sell Home, which is relocating from its current site near the Brooklyn Navy Yard to the new location.
On the Map
Office
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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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93