Birch Group Acquires Office Building In Jersey City For $346M
101 Hudson Street, Jersey City, New Jersey 07302, United States
$346,000,000
$277/SF
Building Size
1,246,283 SF
Asset Type
Office
Closing
Oct 2, 2022
AI
The office property located at 101 Hudson St in Jersey City has been sold in a closed transaction. The transaction took place on 10/03/2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $346,000,000
- Size: 1,300,000 square feet
- Price per Square Foot: $266
- Address: 101 Hudson St, Jersey City
- Market: Jersey City
The buyer of the property is Birch group, while the seller is Veris Residential. The deal was facilitated by Adam Spies, Andy Merin, David Bernhaut, Kevin Donner, Ben Lushing, Frank DiTomasso, and Gary Gabriel, all representing Cushman & Wakefield.
Players
Jersey City Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93