Industrie Capital Partners Leases Mixed-Use Space In Brooklyn's Gowanus For $45/sf
94 9th St, Brooklyn, NY 11215, USA
Building Size
61,000 SF
Asset Type
Office
Closing
Jan 6, 2020
AI
The mixed-use property located at 94 9th Street in Brooklyn, Gowanus has recently undergone a closed transaction. The property, also known as the Roulston House, encompasses various types of spaces suitable for residential and commercial purposes. With a total square footage of 12,800, the property offers ample space for tenants to create their desired environments. The transaction took place on January 7, 2020.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: January 7, 2020
- Address: 94 9th Street, Brooklyn, Gowanus
- Market: Brooklyn, Gowanus
Industrie Capital Partners acted as the landlord in this transaction, representing the property at 94 9th Street. Joseph Hamway, from Industrie Capital Partners, served as the landlord's representative in the deal. The tenant, known as @TheGutterLIC, secured a lease for the space. Eddie Mamiye, from JTRE, alongside Andrew Connolly and Andrew Stern, served as the tenant representatives.
The asking rent for the property stood at $45 per square foot. This favorable rate, combined with the spacious 12,800 square feet, provides an attractive proposition for @TheGutterLIC to establish and operate their business within the Gowanus neighborhood.
Players
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