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21 S Main St Hackensack, Nj...

Offit Kurman, P.A. Expands Office Space At Court Plaza North In Hackensack, NJ
LEASEDOffice

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

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

Stephen Jennings

Alfred Sanzari Enterprises

Broker

10 deals

Broker
Alfred Sanzari

Alfred Sanzari

Alfred Sanzari Enterprises

Landlord

$12.2M

vol

19 deals

Landlord

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