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
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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93