Updated Oct 29, 2024
Shree Parsippany Developers LLC Acquires Troy Office Center For $10.5M
1259 Us-46, Parsippany-Troy Hills, NJ...
$10,500,000
$83/SF
Building Size
126,000 SF
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
The Troy Office Center, a 126,000-square-foot complex located in Parsippany, New Jersey, has been sold for $10.5 million. The property comprises four buildings situated on a 10.5-acre site with 670 feet of frontage along U.S. Highway 46.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,500,000.00
- Address: 1259 Us-46, Parsippany-Troy Hills, NJ
- Market: Parsippany
- Seller's Rep: Tom Scatuorchio (Kislak)
- Buyer: Shree Parsippany Developers LLC
- Square Footage: 126,000
Tom Scatuorchio of Kislak played a dual role in the transaction as he represented the seller, a private investor, and also procured the buyer, Shree Parsippany Developers LLC.
Parsippany 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93