Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno Signs 24,947-SF Lease At The Arbors Parsippany
3-5 Sylvan Way
Building Size
24,947 SF
Asset Type
Office
Closing
Dec 3, 2024
AI
The property asset involved in this transaction is an office space located at 3-5 Sylvan Way in Parsippany, encompassing a total of 24,947 square feet. This asset is part of Onyx Equities' 60-acre campus, which has recently experienced new leasing activity, catering to tenants with upgraded amenities and collaborative spaces.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 3-5 Sylvan Way
- Market: Parsippany
- Landlord: Jonathan Schultz - Onyx Equities
- Tenant: Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno
- Brokers: Courtney Rosenkrantz, David DeMatteis, Joshua Cohen, Mark Zaziski, Patrick Dean & William Brown - Cushman & Wakefield
Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno signed a lease marking a nearly 50% expansion of its office space. The deal reflects Onyx Equities' continued efforts to attract tenants to its campus, which has seen over 46,000 square feet of new leasing activity recently.
Players
Parsippany Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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