Updated Oct 28, 2024
Learning Lounge Leases Mixed-use Space At 430 Palisade Ave In Jersey City, NJ
430 Palisade Avenue, Jersey City, NJ 07307, USA
Building Size
4,340 SF
Asset Type
Mixed-use
Closing
Jun 1, 2020
About this deal
AI
A mixed-use property located at 430 Palisade Ave in Jersey City, NJ has recently been leased. The tenant, Learning Lounge, has signed a 10-year initial term lease agreement with the landlord, 430 Palisade LLC, who is represented by Christopher Conway from Lumberhousejc. The property offers approximately 4,340 square feet of space. The asking rent for the lease was $30 per square foot.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: 06/01/2021
- Address: 430 Palisade Ave, Jersey City, NJ
- Tenant: Learning Lounge
- Landlord: 430 Palisade LLC
- Landlord's Representative: Lumberhousejc
- Tenant's Representative: Christopher Conway
- Asking Rent: $30/ft
- Lease Term: 10 years
Christopher Conway, from Retail_cre, represented the landlord, 430 Palisade LLC, in this lease agreement with Learning Lounge. The lease for this mixed-use property offers long-term stability for both the tenant and the landlord.
Jersey City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease 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