Kessler Rehabilitation Center Leases 125000 SF Office Space At Harborside 6 In Jersey City
135 Greene Street
Building Size
125,000 SF
Asset Type
Office
Closing
May 14, 2025
AI
The property involved in the transaction is located at 135 Greene Street in Jersey City, featuring an office asset with a total square footage of 125,000. This lease marks a significant development within the market, particularly as it represents the largest new office deal in the submarket since September 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 135 Greene Street
- Market: Jersey City
- Landlord: David Elkouby, Ephraim Steinberg & Benzy Fishbane - American Equity Partners
- Tenant: Kessler Rehabilitation Center
- Brokers: Dan Reider, Jamie Drummond & John Crawford - Newmark
The deal was facilitated by representatives from Newmark, consisting of Dan Reider, Jamie Drummond, and John Crawford. Kessler Rehabilitation Center will utilize the leased space for both inpatient and outpatient rehabilitation services, contributing to the increasing demand for Class A properties within the area.
Players
Jersey City Office Market Snapshot
Boundary boundary · Office · 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