Fortune Touch Acquires Office Property At 20 Craig Road In Montvale For $5.75M
20 Craig Road
$5,750,000
$192/SF
Building Size
29,898 SF
Asset Type
Office
Closing
Sep 8, 2025
AI
20 Craig Road is a 29,898-sf office property located in Montvale, NJ, on a 2.97-acre site. The property was sold for $5,750,000, equating to a price per square foot of $192. It is fully leased to Jura.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,750,000
- Address: 20 Craig Road
- Market: Montvale
- Acres: 2.97
- Square Footage: 29,898
- Price Per Square Foot: $192
- Buyer: Fortune Touch
- Seller: Bob Lieb - Mountain Development Corp.
- Brokers: Andy Schwartz, Jordan Sobel, Andre Balthazard & Dan Bottiglieri - Cushman & Wakefield
Cushman & Wakefield facilitated the transaction, representing seller Mountain Development Corp. and securing buyer Fortune Touch, while also coordinating acquisition financing for the deal.
Players
Montvale 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
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93