NICE Systems Renews 39,990-SF Lease At 221 River Street Hoboken Represented By Cushman & Wakefield
221 River Street
Building Size
39,990 SF
Asset Type
Office
Closing
Dec 19, 2025
AI
The asset involved in this transaction is an office space located at 221 River Street in Hoboken, comprising 39,990 square feet. It is situated in Hoboken’s Waterfront Corporate Center and is owned by SPJ Properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Lease renewal
- Landlord: Steven J. Pozycki - SPJ Properties
- Tenant: NICE Systems
- Landlord's Representative: Alex Erdos - SJP Properties
- Tenant's Representatives: David DeMatteis, Mina Shehata & Scott Schubert - Cushman & Wakefield
- Date: 12/19/2025
NICE Systems has renewed its lease for the entire 11th floor of the property, ensuring continued occupancy in the space it currently leases. Alex Erdos represented the landlord in this transaction, while the tenant was represented by a team from Cushman & Wakefield, consisting of David DeMatteis, Mina Shehata, and Scott Schubert.
Players
Hoboken 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