Alvarez & Marsal Capital Real Estate Acquires Office Property In San Jose For $24.5M
3553 North 1st Street, San Jose, California 95134, United States
$24,500,000
$284/SF
Building Size
86,100 SF
Asset Type
Office
Closing
Sep 27, 2022
AI
The office property located at 3553 N 1st Street in San Jose has been sold. The transaction took place on September 28, 2022.
Summary of transation details
- Property Type: Office
- Transaction Amount: $24,500,000
- Address: 3553 N 1st Street, San Jose
- Market: San Jose
- Acres: 6
- Buyer: Alvarez & Marsal Capital Real Estate
- Seller: Santa Clara Country Housing Authority
The buyer in this transaction is Alvarez & Marsal Capital Real Estate, and they were represented by their broker. The seller, on the other hand, is the Santa Clara Country Housing Authority. The property has a total square footage of 86,100, resulting in a price per square foot of $285.
San Jose Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93