Updated Oct 28, 2024
The Birch Group, Bushburg, And 2020 Vision Group Acquire Office Building In Jersey City For $346M
101 Hudson Street
$346,000,000
$256/SF
Building Size
1,347,712 SF
Asset Type
Office
Closing
Oct 7, 2022
About this deal
AI
An office property located at 101 Hudson Street in Jersey City has been sold in a recent transaction. The sale, facilitated by Cushman & Wakefield, involved the buyer, The Birch Group represented by Mark Meisner, Bushburg represented by Avi Glikman, and 2020 Vision Group. The seller of the property was Veris Residential. The transaction was closed for a total sale price of $346,000,000. The office space has a total area of 1,347,712 square feet, resulting in a price per square foot of $257.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $346,000,000
- Address: 101 Hudson Street, Jersey City
- Buyer: The Birch Group - Mark Meisner, Bushburg - Avi Glikman, and 2020 Vision Group
- Seller: Veris Residential
- Broker: Cushman & Wakefield
- Square Feet: 1,347,712
- Price Per Square Foot: $257
The Birch Group, represented by Mark Meisner, Bushburg, represented by Avi Glikman, and 2020 Vision Group were the key players in this property transaction. Additionally, Cushman & Wakefield served as the broker for this deal, facilitating the sale between the buyer and seller.
Players
Jersey City 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93