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241 37th St, Brooklyn, NY, ...

Time Equities Leases 55000 Square Feet At 241 37th St Brooklyn From Industry City Associates
LEASEDOffice

Time Equities Leases 55000 Square Feet At 241 37th St Brooklyn From Industry City Associates

241 37th St, Brooklyn, NY, 11232

Building Size

55,000 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property asset involved in the transaction is located at 241 37th St, Brooklyn, NY, 11232, within the Brooklyn market. The total square footage of the property is 55,000 square feet.

Summary of transaction details:

The deal involves key individuals and companies including the tenant, Time Equities, and the landlord, Industry City Associates, with representation by Joseph (Joe) Cirone from CBRE and Kelli Berke from Cushman & Wakefield. Brokers Matthew Barlow from Savills Studley and Bruce Mosler from Cushman & Wakefield facilitated the transaction.

Players

Bruce Mosler

Cushman & Wakefield

Broker

17 deals

Broker
Time Equities
Time EquitiesTenant

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