Updated Oct 10, 2024
Sonehan 195 North Street Leases 19154 Square Feet In Teterboro With Landlord's Rep Jeffrey DeMagistris
195 North St, Teterboro, NJ, 07608
Building Size
19,154 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property involved in the transaction is a 19,154 square feet flex/industrial space located at 195 North St, Teterboro, NJ, 07608. The market for this property is Teterboro, and it has brought the facility to 100% occupancy after the lease agreement was finalized.
Summary of transaction details:
- Property Type: Flex/Industrial
- Transaction Amount: Not specified
- Address: 195 North St, Teterboro, NJ, 07608
- Market: Teterboro
- Landlord: Sonehan 195 North Street
- Landlord's Representative: Jeffrey "Jeff" DeMagistris & Tom Vetter - NAI Capital
- Square Feet: 19,154
- Previous Owner/Manager: NAI James E. Hanson
- Property Renovation: Completed last year
NAI James E. Hanson arranged the lease with Zenith Freight Lines, representing the landlord Sonehan 195 North Street. Jeff DeMagistris and Tom Vetter from NAI Capital facilitated the representation of the landlord in this transaction. The property, originally built in 1960, has been transformed to meet modern requirements and the firm has been dedicated to creating and finding spaces for businesses in New Jersey since its inception.
Players
Teterboro 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