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
Brooklyn Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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