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221 River Street

NICE Systems Renews 39,990-SF Lease At 221 River Street Hoboken Represented By Cushman & Wakefield
LEASEDOffice

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

Scott Schubert

Cushman & Wakefield

Broker

$20M

vol

2 deals

Broker

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