Updated Oct 28, 2024
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
About this deal
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.
The office loan at 1085 Morris Avenue, Union, New Jersey 07083, United States in Union, New Jersey financed for $31M in 2022. The building is 210,000 square feet, implying about 147 per square foot on the published price. Jon Mikula, Max Custer, Brian Sullivan, Jonathan Daniel appear on the loan alongside JLL. This page is the Union, New Jersey file for the 1085 Morris Avenue, Union, New Jersey 07083, United States office financed: pricing, party profiles, and other closed office comps from the same Union sit in the Market section below. Filter that Union office set by closing date to see what else financed near 1085 Morris Avenue, Union, New Jersey 07083, United States around 2022. Published consideration for 1085 Morris Avenue, Union, New Jersey 07083, United States is $31M, dated 2022. Cite this Knighthead Funding Provides $31M Loan For Office Building At 1085 Morris Avenue In Union loan when underwriting similar office product around Union, New Jersey.
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