Bergman Real Estate Group Acquires Office Building In Rochelle Park For $7.2M
SOLD
$7,200,000
New Jersey
See Similar DealsOffice65,000 SF
Sold 11/23/2020
SOLD
Bergman Real Estate Group Acquires Office Building In Rochelle Park For $7.2M
201 West Passaic Street, Rochelle Park, NJ 07662
See Similar DealsOffice65,000 SF
Sold 11/23/2020
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$110
Total Square Footage:65,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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