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135 Greene Street

Kessler Rehabilitation Center Leases 125000 SF Office Space At Harborside 6 In Jersey City
LEASEDOffice

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

Dan Reider

Newmark

Broker

$146.1M

vol

14 deals

Broker

David Elkouby

American Equity Partners

Landlord

$46M

vol

5 deals

Landlord
AP
American Equity PartnersLandlord
KC
Kessler Rehabilitation CenterTenant

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