Auramet International Inc. Renewed Lease For 4,818 SF Office At Glenpointe Teaneck
300 Frank W Burr Boulevard
Building Size
4,818 SF
Asset Type
Office
Closing
Dec 5, 2024
AI
The property asset involved in the transaction is an office space located at 300 Frank W Burr Boulevard in Teaneck, with a total square footage of 4,818. The asset serves as the headquarters for Auramet International, Inc. and is situated within the Glenpointe corporate campus, which is noted for its extensive amenities and proximity to Manhattan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Disclosed
- Address: 300 Frank W Burr Boulevard
- Market: Teaneck
- Landlord: Alfred Sanzari Enterprises
- Tenant: James Verraster - Auramet International, Inc.
- Landlord's Rep: Carolina Gutierrez & Christopher DeLorenzo - Alfred Sanzari Enterprises
- Tenant's Rep: Jason Fray - Cresa
Auramet International renewed its office lease with Alfred Sanzari Enterprises, where it has been established since 2013. The landlord's representatives, Carolina Gutierrez and Christopher DeLorenzo, played a key role in facilitating the lease agreement, while Jason Fray of Cresa represented the tenant during the transaction.
Players
Teaneck 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