Pershing Properties Inc. Sells Office Building In Cresskill, NJ For $2.46M
SOLD
$2,460,000
New Jersey
See Similar DealsOffice12,000 SF
Sold 12/20/2021
SOLD
Pershing Properties Inc. Sells Office Building In Cresskill, NJ For $2.46M
210 Knickerbocker Rd, Cresskill, New Jersey 07626, United States
See Similar DealsOffice12,000 SF
Sold 12/20/2021
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$205
Total Square Footage:12,000 SF
Transaction Type:Sale
Located at 210-220 Knickerbocker Rd in Cresskill, NJ, this office property was recently sold on December 20, 2021. The transaction was facilitated by Kristian Cichon of Deugen Realty Group, representing Pershing Properties Inc. The property offers a total of 12,000 square feet of space.
Summary of transaction details:
- Property Type: Office
- Sale Price: $2,460,000
- Asking Price: $2,500,000
- Price per Square Foot: $205
- Market: Cresskill, NJ
This sale transaction showcases the successful collaboration between Pershing Properties Inc. as the seller and Kristian Cichon of Deugen Realty Group as the broker representing both parties. The property presents a valuable investment opportunity with its 12,000 square feet of office space.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$131,200.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,739.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,661.66
Annual Debt Service$139,939.86
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