What If! Leases 14500 Square Feet At 137 2nd Ave Brooklyn With Industry City As Landlord
137 2nd Ave, Brooklyn, NY, 11215
Building Size
14,500 SF
Asset Type
Warehouse
Closing
Nov 19, 2023
AI
The property involved in this transaction is located at 137 2nd Ave, Brooklyn, NY, 11215. This lease transaction is situated in the Brooklyn market and encompasses a total space of 14,500 square feet.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Square Feet: 14,500
- Address: 137 2nd Ave, Brooklyn, NY, 11215
- Market: Brooklyn
- Tenant: ?What If!
- Landlord: Industry City
- Tenant's Representative: Jonathan Schindler - Cushman & Wakefield
- Landlord's Representatives: Kathe Chase - Industry City, David Young - NAI Capital
This transaction features representatives from both the tenant and landlord sides, with Jonathan Schindler representing the tenant, ?What If!, and multiple representatives for the landlord, Industry City, including Kathe Chase and David Young.
Players
Brooklyn Warehouse Market Snapshot
Boundary boundary · Warehouse · 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