IAVI Leases 29,782 Square Feet Office Space At 95 Greene Street In Jersey City
95 Greene Street
Building Size
29,782 SF
Asset Type
Office
Closing
Jul 10, 2024
AI
The asset involved in this transaction is an office space located at 95 Greene Street in Jersey City, covering a total area of 29,782 square feet. The property is well-suited for lab use, as it is described as lab-ready space. The leasing is tied to the global health sector, specifically focusing on vaccine research.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 95 Greene Street
- Market: Jersey City
- Tenant: IAVI
- Square Footage: 29,782
- Brokers: John Isaacs, Joseph DeRosa & Conor Dolan - CBRE
The deal involves IAVI, a nonprofit research organization dedicated to combating HIV and emerging infectious diseases. IAVI has relocated its Vaccine Design and Development Lab from Brooklyn to this new location, allowing for the advancement of various global health solutions.
Players
Jersey City 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