Mac OS: ssh tunnel issue 'bind: Cannot assign requested address'

I was trying to make a ssh tunnel using the following command:

ssh -L 127.0.0.1:8000:remotehost.mycompany.com:3128 wilson@gateway.mycompany.com -f -N

It gives an error: "bind: Cannot assign requested address"
Check the System Preferences -> Security & Privacy, found Firewall is On and in Firewall Options, Blocking all incoming connections was ticked. Deselect it and retry the ssh command, it works fine.