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611 River Dr, Elmwood Park,...

Lee & Associates New Jersey Leases 5765 Square Feet At 611 River Dr Elmwood Park
LEASEDOffice

Lee & Associates New Jersey Leases 5765 Square Feet At 611 River Dr Elmwood Park

611 River Dr, Elmwood Park, NJ, 07407

Building Size

5,765 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property asset involved in the transaction is located at 611 River Dr, Elmwood Park, NJ, 07407. It comprises a total of 5,765 square feet of space in the Elmwood Park market, designated for lease. The landlord remains unknown.

Summary of transaction details:

Key individuals involved in the transaction include Jason Lynch, a principal at Lee & Associates New Jersey, who discussed the benefits of the new space for workplace collaboration and COVID-19 precautions. Joe Tormen and Peter Rasmusson represented the tenant in the deal, while Jerry Shifrin and Curtis Foster acted on behalf of the landlord. The transaction was completed despite challenges posed by the pandemic, allowing the tenant to move to a more efficient office layout.

Players

Curtis Foster

Cushman & Wakefield

Broker

5 deals

Broker
Lee & Associates
Lee & AssociatesTenant

Elmwood Park 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