Updated Oct 29, 2024
FCA Acquires Office Building At 111 Grand Ave, Palisades Park For $3M
111 Grand Ave, Palisades Park, NJ, 07...
$3,000,000
$150/SF
Building Size
20,000 SF
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
The office building at 111 Grand Ave in Palisades Park, NJ has been sold for $3 million. The property spans 20,000 square feet and consists of 14 separate suites, with sizes ranging from 186 square feet to 6,000 square feet. At the time of the sale, the building was 33 percent occupied.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,000,000.00
- Address: 111 Grand Ave, Palisades Park, NJ, 07...
- Market: Palisades Park
- Seller's Rep: Tyler Van Wagoner (Marcus & Millichap)
- Buyer: FCA
- SF: 20000
Fahri Ozturk and Tyler Van Wagoner from Marcus & Millichap represented the seller in the transaction. The buyer, identified only as FCA, remains undisclosed. The office building's sale highlights the active involvement of these real estate professionals in closing deals in the Palisades Park market.
Players
Palisades Park Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93