Updated Sep 9, 2024
NAI James E. Hanson Represents Sale Of Office Building In Clifton For $16M
1135 Broad Street
$16,000,000
$255/SF
Building Size
62,535 SF
Asset Type
Office
Closing
Sep 22, 2022
About this deal
AI
A 62,535 square foot office property located at 1135 Broad St in Clifton, NJ was recently sold for $16,000,000. The property was sold by an undisclosed seller and purchased by the buyer in a closed transaction. The sale price translates to approximately $256 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,000,000
- Square Footage: 62,535
- Address: 1135 Broad St, Clifton, NJ
- Market: Clifton, NJ
Randy Horning and Darren Lizzack, both from NAI James E. Hanson, represented the buyer and seller, respectively, in this transaction.
Players
Clifton 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93