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45 Main Street, Dumbo, Broo...

Updated Mar 11, 2025

Six Penny Chooses Dumbo, Brooklyn For NYC Office/Showroom Expansion
LEASEDOffice

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

Brandon Singer

Retail By Mona

Broker

$84.3M

vol

61 deals

Broker
Two Trees Management
Two Trees ManagementBrokerage
Two Trees Management
Two Trees ManagementLandlord

New York Office Market Snapshot

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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

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