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235 Duffield St, Brooklyn, ...

Gemic Leases 7000 SF Office Space At 235 Duffield St, Brooklyn
LEASEDOffice

Gemic Leases 7000 SF Office Space At 235 Duffield St, Brooklyn

235 Duffield St, Brooklyn, NY, 11201

Building Size

7,000 SF

Asset Type

Office

Closing

Aug 17, 2022

AI

The office property located at 235 Duffield St, Brooklyn, NY, 11201, in the Brooklyn market, with a total area of 7,000 square feet, has been leased in a recent transaction. Gemic has secured this space for their operations, with JEMB Realty acting as the landlord and Neil V. King III from CBRE representing the landlord's side in the deal.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Tenant: Gemic
  • Landlord: JEMB Realty
  • Tenant's Representative: Marc Mas
  • Landlord's Representative: Neil V. King III (CBRE)
  • Address: 235 Duffield St, Brooklyn, NY, 11201
  • Market: Brooklyn
  • Square Feet: 7,000

Marc Mas represented Gemic as the tenant's representative in the lease agreement, while Neil V. King III from CBRE played a crucial role as the landlord's representative. This transaction showcases the collaborative effort between the tenant and landlord, facilitated by their experienced representatives.

Players

Marc Mas

Broker

1 deal

Broker
JR
JEMB RealtyLandlord

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