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201 West Passaic Street, Ro...

Bergman Real Estate Group Acquires Office Building In Rochelle Park For $7.2M
SOLDOffice

Bergman Real Estate Group Acquires Office Building In Rochelle Park For $7.2M

201 West Passaic Street, Rochelle Park, NJ 07662

$7,200,000

$110/SF

Building Size

65,000 SF

Asset Type

Office

Closing

Nov 22, 2020

AI

The office building located at 201 W. Passaic Street in Rochelle Park has been sold for $7,200,000. The property spans 65,000 square feet, resulting in a price per square foot of $111. The transaction took place on November 23, 2020. The buyer of the property is Bergman Real Estate Group, while the seller is Sherbrooke Holding Co. LLC.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $7,200,000
  • Square Footage: 65,000
  • Price per Square Foot: $111
  • Date: November 23, 2020
  • Address: 201 W. Passaic Street
  • Market: Rochelle Park

The deal was facilitated by John Johnson of Wellington Co. LLC, who represented the buyer, Bergman Real Estate Group, in this transaction.

Players

John Johnson

Wellington Realty

Broker

$7.2M

vol

1 deal

Broker
BG
Bergman Real Estate GroupBuyer

Rochelle Park 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

2.20%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93