Morgan Stanley Acquires Industrial Asset From Andre Stahl In Bayonne For $60M
48-52 New Hook Access Road & 1 Commerce Street
$60,000,000
$113/SF
Building Size
530,000 SF
Asset Type
Industrial
Closing
Dec 5, 2024
AI
This industrial property, located at 48-52 New Hook Road & 1 Commerce Street in Bayonne, NJ, has a sale price of $60,000,000. The asset encompasses 265,000 square feet, resulting in a price per square foot of $226.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $60,000,000
- Buyer: Morgan Stanley
- Seller: Andre Stahl
- Broker: Yehuda Goltche - FlowerRe
The transaction was facilitated by broker Yehuda Goltche representing the seller, Andre Stahl. This sale reflects a significant financial exchange within the industrial market of Bayonne.
Players
Bayonne 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93