FINANCEDOffice
Knighthead Funding Provides $31M Loan For Office Building At 1085 Morris Avenue In Union
1085 Morris Avenue, Union, New Jersey 07083, United States
$31,000,000
$147/SF
Building Size
210,000 SF
Asset Type
Office
Closing
Aug 17, 2022
AI
An office property located at 1085 Morris Avenue in Union has been recently involved in a closed transaction. The property spans a total area of 210,000 square feet and is situated in the Union market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $31,000,000
- Address: 1085 Morris Avenue, Union
- Market: Union
- Asset Type: Office
- Square Footage: 210,000
Knighthead Funding, LLC, represented by Brian Sullivan & Jonathan Daniel, acted as the landlord in this transaction.
Players
Union Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93