Six Penny Chooses Dumbo, Brooklyn For NYC Office/Showroom Expansion
45 Main Street, Dumbo, Brooklyn, NY, USA
Building Size
4,000 SF
Asset Type
Office
Closing
Sep 15, 2021
About this deal
AI
Located at 45 Main Street in the Dumbo neighborhood of Brooklyn, a new office space has been leased. The property, which spans approximately 4,000 square feet, was recently occupied by Six Penny, an online direct-to-consumer retailer expanding its reach to the NYC market. The office space serves as a showroom and base for the company's NYC and US operations. The lease was facilitated by Brandon Singer and Michael Cody of Retail By MONA, acting as representatives for the tenant.
Summary of transaction details:
- Property Type: Office
- Transaction Date: 09/15/2021
- Address: 45 Main Street, Dumbo, Brooklyn
- Market: Dumbo
- Landlord: Two Trees Management
- Tenant: Six Penny (https://sixpenny.com/)
- Brokers: Brandon Singer & Michael Cody - Retail By MONA
- Asking Rent: $50/ft.
This lease marks Six Penny's strategic decision to establish its NYC presence in the vibrant Dumbo neighborhood. By selecting this location as their office/showroom, Six Penny aims to showcase their products and expand their direct-to-consumer retail operations in the New York City market.
Players
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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