Salvatore Frassetto, Peter Feldman And Roy Pascal Acquire 611 Union Boulevard In Totowa
611 Union Boulevard
Building Size
26,630 SF
Asset Type
Industrial
Closing
Feb 19, 2026
AI
611 Union Boulevard is a 26,630-square-foot industrial property located in the Totowa market, situated on a 1.05-acre lot. This sale was completed on February 19, 2026.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 611 Union Boulevard
- Market: Totowa
- Buyer: Salvatore Frassetto & Peter Feldman - Legacy Real Estate Developers; Roy Pascal - Commerce Park Investors
- Broker: Howard Weinberg - JLL
Legacy Real Estate Developers and Commerce Park Investors plan to redevelop the acquired property into mixed-use industrial, flex, and retail space. This transaction marks the fourth joint venture between the Miami-based Legacy and the East Hanover-based Commerce Park Investors.
Players
Totowa 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93