Deutsche Bank Provides $22.5M Refinance Loan For Office Property In Rochelle Park
365 West Passaic Street
$22,500,000
$102/SF
Building Size
220,398 SF
Asset Type
Office
Closing
Sep 21, 2025
AI
The asset involved in this transaction is an office property located at 365 West Passaic Street in Rochelle Park, with a total square footage of 220,398. The loan amount secured for refinancing is $22,500,000, structured as a 5-year fixed-rate loan with full term interest-only payments.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $22,500,000
- Loan Type: Refinance
- Loan Terms: 5-year fixed rate loan, full term I/O
- Lender: Deutsche Bank
- Landlord: Michael Bergman - Bergman Real Estate Group
- Brokers: Brian Anderson & Eddie Miro - Cushman & Wakefield
Key individuals in this transaction include Deutsche Bank as the lender, and Michael Bergman representing the landlord through Bergman Real Estate Group. The brokerage was represented by Brian Anderson and Eddie Miro from Cushman & Wakefield, facilitating this refinancing deal.
Players
Rochelle 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93