Turnbridge Equities Acquires Industrial Asset From Waitex International For $91.5M In Bayonne NJ
169 Pulaski Street
$91,500,000
$183/SF
Building Size
500,000 SF
Asset Type
Industrial
Closing
Apr 2, 2025
AI
The property asset involved in this transaction is an industrial facility located at 169 Pulaski Street in Bayonne, NJ. The transaction was completed for a sale price of $91,500,000, encompassing a total square footage of 500,000, which translates to a price per square foot of $183.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $91,500,000
- Buyer: Turnbridge Equities
- Seller: Waitex International
- Buyer's Representative: Emanuel Westfried
- Seller's Representative: Christopher Okada - Okada & Company
The transaction features key individuals, with Emanuel Westfried representing Turnbridge Equities as the buyer's representative, while Christopher Okada of Okada & Company serves as the seller's representative for Waitex International, facilitating the details of this industrial sale.
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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93