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135 Greene Street

American Equity Partners Acquires Office Building In Jersey City For $46M
SOLDOffice

American Equity Partners Acquires Office Building In Jersey City For $46M

135 Greene Street

$46,000,000

$184/SF

Building Size

250,000 SF

Asset Type

Office

Closing

Sep 13, 2023

AI

The property involved in the transaction is an office located at 135 Greene Street in Jersey City. The property spans 250,000 square feet and was sold for a total of $46,000,000, resulting in a price per square foot of $184.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $46,000,000
  • Address: 135 Greene Street
  • Market: Jersey City

American Equity Partners, represented by David Elkouby, acquired the property from Veris Residential. The deal was facilitated by brokers Frank DiTommaso, David Bernhaut, and Andrew Merin from Cushman & Wakefield, along with Jeffrey Dunne from CBRE.

Players

Andrew Merin

Cushman & Wakefield

Broker

$3.1B

vol

35 deals

Broker

David Elkouby

American Equity Partners

Buyer

$46M

vol

5 deals

Buyer
VR
Veris ResidentialSeller

Jersey City 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

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93