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3920 Park Avenue, Edison, N...

PAG Investments Acquires Industrial Property In Edison, NJ For $11M
SOLDIndustrial

PAG Investments Acquires Industrial Property In Edison, NJ For $11M

3920 Park Avenue, Edison, NJ 08820

$11,000,000

$174/SF

Building Size

63,000 SF

Asset Type

Industrial

Closing

Jul 7, 2020

AI

The industrial property located at 3920 Park Ave in Edison, NJ has recently been sold. The transaction took place on 07/07/2021 with a sale price of $11,000,000. The property spans a total area of 63,000 square feet, resulting in a price per square foot of $175. The buyer of the property is PAG Investments, represented by Gershon Alexander. The seller is 3920 Park Avenue Associates, represented by Lawrence Berger. The deal was facilitated by David Zimmel from Zimmel Associates.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $11,000,000
  • Address: 3920 Park Ave, Edison, NJ
  • Market: Edison, NJ
  • Buyer: PAG Investments - Gershon Alexander
  • Seller: 3920 Park Avenue Associates - Lawrence Berger
  • Broker: David Zimmel - Zimmel Associates
  • SF: 63,000
  • PPSF: $175

Gershon Alexander of PAG Investments played a key role as the buyer in this transaction, while Lawrence Berger of 3920 Park Avenue Associates acted as the seller. The deal was successfully brokered by David Zimmel from Zimmel Associates.

Players

David Zimmel

Zimmel Associates

Broker

$181.4M

vol

15 deals

Broker
Gershon Alexander

Gershon Alexander

Buyer

$64.1M

vol

6 deals

Buyer

Edison 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

1.44%

Cash-on-Cash

-0.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93