Updated Oct 29, 2024
Thor Equities Acquires Passaic Industrial Property For $52M
153 Linden Street, Clifton, New Jersey 07055, United States
$52,000,000
$157,575/SF
Building Size
330 SF
Asset Type
Industrial
Closing
Aug 9, 2022
About this deal
AI
An industrial property located at 153 Linden St in Passaic has been sold for $52,000,000. The property spans 330,000 square feet, resulting in a price per square foot of $158. The transaction took place on September 8, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $52,000,000
- Address: 153 Linden St
- Market: Passaic
- Square Footage: 330,000
- Price per Square Foot: $158
Thor Equities, represented by Joe Sitt, Jack Sitt, and Alec Ludwig, acquired the property from Howard Warehouse. The deal was facilitated by Drew Maffey, Rick Marchisio, and Brian Lynch from Lee & Associates.
On the Map
$52,000,000
$157,575/SF
Industrial
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Players
Clifton Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93