Columbia Bank Refinances Industrial Office In East Hanover, NJ For $3.35M
17 West St, East Hanover, New Jersey 07936, United States
$3,350,000
$142/SF
Building Size
23,500 SF
Asset Type
Industrial
Closing
Mar 20, 2022
AI
Located at 17 West Street in East Hanover, NJ, this industrial office property spans a total of 23,500 square feet. The property was involved in a recent loan transaction.
Summary of transaction details
- Property Type: Industrial Office
- Transaction Amount: $3,350,000
- Date: 03/21/2022
- Address: 17 West Street, East Hanover, NJ
- Lender: Columbia Bank
- Landlord: Roy Pascal
- Brokers: Kathy Anderson & Caillin Boles - Progress Capital
The loan amount for this transaction was $3,350,000, and it was a refinance loan. The property's landlord, Roy Pascal, was represented by Kathy Anderson & Caillin Boles from Progress Capital.
Players
East Hanover Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93