Alfred Sanzari Enterprises Leases 3400 Square Feet At 500 Glenpointe Centre W Teaneck New Jersey
500 Glenpointe Centre W, Teaneck, NJ...
Building Size
3,400 SF
Asset Type
Office
Closing
Jun 26, 2017
AI
The property involved in this transaction is an office space located at 500 Glenpointe Centre W, Teaneck, NJ, encompassing a total area of 3,400 square feet. The landlord for this lease transaction is Alfred Sanzari Enterprises, a notable real estate company based in Hackensack, NJ, which owns and operates the mixed-use Glenpointe complex that includes multiple office buildings, a hotel, and a fitness center.
Summary of transaction details:
- Property Type: Office Space
- Transaction Amount: Not disclosed
- Address: 500 Glenpointe Centre W, Teaneck, NJ
- Landlord: Alfred Sanzari Enterprises
- Landlord's Representatives: Marc Graham, Christian Politan (Cushman & Wakefield), Jerry Barta (Alfred Sanzari Enterprises)
- Tenant: Agam Capital Management
- Tenant's Representative: Reuben Torenberg (CBRE)
- Square Feet: 3,400
- Date of Transaction: June 26, 2017
The deal was facilitated by Jerry L. Barta from Alfred Sanzari Enterprises, along with the Cushman & Wakefield agency team consisting of Richard Baumstein, Marc Graham, and Christian Politan. Agam Capital Management, led by founder and CEO Avi Katz, is relocating from Saddle Brook to this location, highlighting the attractive full-service amenities and the central location of the Glenpointe complex as key factors in their decision.
Players
Market Office Market Snapshot
Boundary boundary · Office · Lease transactions
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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