Updated Mar 4, 2026
IEF Acquires Industrial Asset At 369 Passaic Avenue From SCESC For $7 Million With Buyer's Rep Tony Nabhan & Farhan Yousufi
369 Passaic Avenue
$7,000,000
$159/SF
Building Size
44,000 SF
Asset Type
Industrial
Closing
Feb 19, 2026
About this deal
AI
The property asset located at 369 Passaic Avenue in the Passaic market is an industrial space featuring a total square footage of 44,000. The sale was finalized for a total transaction amount of $7,000,000, which equates to a price per square foot of $159.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Address: 369 Passaic Avenue
- Market: Passaic
- Square Footage: 44,000
- Price Per Square Foot: $159
- Buyer: IEF
- Seller: SCESC
- Buyer’s Representative: Tony Nabhan & Farhan Yousufi - The Tony Nabhan Collective - Keller Williams Realty
The transaction involved the buyer IEF acquiring the property from seller SCESC, with representation from Tony Nabhan and Farhan Yousufi, affiliated with The Tony Nabhan Collective at Keller Williams Realty.
On the Map
$7,000,000
$159/SF
Industrial
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Players
Passaic 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93