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137 2nd Ave, Brooklyn, NY, ...

What If! Leases 14500 Square Feet At 137 2nd Ave Brooklyn With Industry City As Landlord
LEASEDWarehouse

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:

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

David Young

NAI Global

Broker

$135.3M

vol

6 deals

Broker
Avison Young
Avison YoungBrokerage
Industry City
Industry CityLandlord

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