Offit Kurman, P.A. Expands Office Space At Court Plaza North In Hackensack, NJ
21 S Main St Hackensack, Nj 07601, Usa
$25
$25/SF
Building Size
8,234 SF
Asset Type
Office
Closing
Jul 25, 2023
AI
Offit Kurman, P.A. has expanded its office space to 8,234 sq ft at Court Plaza North in Hackensack, N.J. The property, located at 21 Main Street, offers convenient covered parking and amenities, making it an attractive choice for professional service organizations. The lease transaction was facilitated by Alfred Sanzari Enterprises, the landlord of the property.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not applicable
- Address: 21 Main Street, Hackensack, NJ
- Market: Hackensack
- Landlord: Alfred Sanzari Enterprises
- Tenant: Offit Kurman, P.A
- Landlord's Representative: Stephen Jennings & Carolina Gutierrez - Alfred Sanzari Enterprises
- Tenant's Representatives: Dennis Gralla - Cresa Partner; Lynn Abehouse - Abeshouse Partners
- Asking Rent: $25/ft.
- Square Footage: 8,234 sq ft
The deal was facilitated by Dennis Gralla from Cresa Partner and Lynn Abehouse from Abeshouse Partners, representing Offit Kurman, P.A as the tenant, while Stephen Jennings and Carolina Gutierrez of Alfred Sanzari Enterprises served as the landlord's representatives. Offit Kurman, P.A., a rapidly growing law firm, recognized the strategic location and appealing features offered by Court Plaza North in Hackensack, N.J, leading to their decision to expand their office space at this property.
Players
New Jersey 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
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93