Morgan Stanley Acquires Industrial Asset From Andre Stahl In Bayonne For $60M
SOLD
$60,000,000
New Jersey
See Similar DealsIndustrial530,000 SF
Sold 12/05/2024
SOLD
Morgan Stanley Acquires Industrial Asset From Andre Stahl In Bayonne For $60M
48-52 New Hook Access Road & 1 Commerce Street
See Similar DealsIndustrial530,000 SF
Sold 12/05/2024
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$113
Total Square Footage:530,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$213,167.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$284,430.61
Annual Debt Service$3,413,167.33
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