Beekman Estate Leases Office Space To IPRG NJ At 75 Montgomery Street Jersey City
75 Montgomery Street
$1,000
$1,000/SF
Building Size
4,360 SF
Asset Type
Office
Closing
Sep 1, 2024
AI
The property asset involved in the transaction is located at 75 Montgomery Street in Jersey City, categorized as an office space. The lease type is a Modified Gross Lease with an asking rent of $1,000 per square foot for a total of 4,360 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,360,000
- Address: 75 Montgomery Street
- Market: Jersey City
- Landlord: Beekman Estate
- Tenant: IPRG NJ
- Landlord's Representative: Mina Shehata - Cushman & Wakefield
- Tenant's Representatives: Yanni Marmarou, Derek Bestreich, Luke Sproviero & Steve Reynolds - Investment Property Realty Group (IPRG)
The deal was facilitated by the landlord's representative, Mina Shehata from Cushman & Wakefield, and the tenant was represented by Yanni Marmarou, Derek Bestreich, Luke Sproviero, and Steve Reynolds from Investment Property Realty Group (IPRG).
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
15863.00%
Cash-on-Cash
-4533.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93