Updated Dec 4, 2024
Alfred Sanzari Enterprises Signs 3913 Square Foot Office Lease With Trenk Isabel Siddiqi & Shahdanian In Hackensack
21 South Main Street
Building Size
3,913 SF
Asset Type
Office
Closing
Oct 17, 2024
About this deal
AI
21 South Main Street is located in Hackensack and features a total square footage of 3,913 dedicated to office use. The property is part of the Court Plaza South complex and will serve as a new location for the law firm Trenk Isabel Siddiqi & Shahdanian, P.C.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 21 South Main Street
- Market: Hackensack
- Landlord: Alfred Sanzari Enterprises
- Tenant: John L. Shahdanian II - Trenk Isabel Siddiqi & Shahdanian, P.C.
- Landlord's Rep: Andrew Somple, Jessica Curry & Jonathan Kristofich - NAI James E. Hanson
- Tenant's Rep: Courtney Rosenkrantz & Raymond Trevisan - Cushman & Wakefield
Alfred Sanzari Enterprises has established a lease agreement with Trenk Isabel Siddiqi & Shahdanian, P.C. The representatives involved in the transaction include Andrew Somple, Jessica Curry, and Jonathan Kristofich from NAI James E. Hanson representing the landlord, alongside Courtney Rosenkrantz and Raymond Trevisan from Cushman & Wakefield representing the tenant.
Players
Hackensack Office Market Snapshot
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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