Updated Nov 27, 2024
CBRE Global Investors Provides $30M Loan For Florham Park Office Property
180 Park Avenue, Florham Park, NJ, USA
$30,010,000
$131/SF
Building Size
228,350 SF
Asset Type
Office
Closing
Nov 17, 2020
About this deal
AI
180 Park Avenue in Florham Park has been involved in a recent closed transaction. The property is an office building with a total square footage of 228,350. The deal took place on November 18, 2020.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $30,010,000
- Market: Florham Park
The loan for this transaction was provided by CBRE Global Investors, with Charles Kim representing the lender. The loan amount was $30,010,000, and it has a three-year, floating-rate term. The landlord of 180 Park Avenue is Vision Properties, represented by David Milewski. Additionally, The Birch Group NY, represented by Mark Meisner, is also a landlord in this deal. JLL's Gregory Nalbandian acted as the broker in this transaction.
Players
Florham Park 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93