Updated Feb 20, 2025
New Edgell Orthopedics Leases 5000 SF Office At 121 Newark Avenue Jersey City For $36/ft
121 Newark Avenue
$36
$36/SF
Building Size
5,000 SF
Asset Type
Office
Closing
Feb 18, 2025
About this deal
AI
The property involved in this transaction is an office asset located at 121 Newark Avenue in Jersey City. The tenant, New Edgell Orthopedics, has acquired a lease for the specified area of 5,000 square feet at an asking rent of $36 per square foot. The lease term is set for 5 years with an option, structured as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $180,000
- Tenant: New Edgell Orthopedics
- Broker: Gregory Edgell - Grid Real Estate
- Lease Term: 5 Years + Option
- Lease Type: Modified Gross Lease
- Market: Jersey City
- Address: 121 Newark Avenue
- Square Footage: 5,000
- Asking Rent: $36/ft
The transaction was facilitated by Gregory Edgell, representing New Edgell Orthopedics through his agency, Grid Real Estate, ensuring a successful lease negotiation for both the tenant and the property.
On the Map
$36
$36/SF
Office
View full map
Jersey City Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Visit Gregory Edgell to view all their deals.
Browse Jersey City office leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
440638.89%
Cash-on-Cash
-125935.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93