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146 Route 17, Hackensack, N...

Procida Funding Sells Hackensack Office Property To Undisclosed Buyer For $3.7M
SOLDOffice

Procida Funding Sells Hackensack Office Property To Undisclosed Buyer For $3.7M

146 Route 17, Hackensack, NJ 07601

$3,700,000

$246/SF

Building Size

15,000 SF

Asset Type

Office

Closing

Apr 27, 2023

AI

An office property located at 146 New Jersey Highway 17 in Hackensack has been sold in a recent transaction. The property spans 15,000 square feet and was sold for a total price of $3,700,000, resulting in a price per square foot of $247.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,700,000
  • Address: 146 New Jersey Highway 17, Hackensack
  • Market: Hackensack
  • Seller: Procida Funding - Kevin Carton & Derek Weissman
  • Seller's Representative: Brendan McBride & Nicolas DeCotiis - JLL
  • Square Feet: 15,000
  • Price per Square Foot: $247

The sale of this office property was facilitated by Brendan McBride and Nicolas DeCotiis from JLL on behalf of the sellers, Kevin Carton and Derek Weissman of Procida Funding.

Players

Brendan McBride

JLL

Broker

$3.7M

vol

2 deals

Broker

Derek Weissman

Procida Funding

Seller

$136.1M

vol

3 deals

Seller
Procida Funding
Procida FundingSeller

New Jersey 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

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93