Updated Oct 7, 2024
Rochelle Park Property Sold For $17.8 Million With Seller's Reps Andrew Merin Frank Costa III Gary Gabriel
218 Nj-17, Rochelle Park, NJ, 07662
$17,800,000
$169/SF
Building Size
105,000 SF
Asset Type
Office
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is an office building located at 218 Nj-17, Rochelle Park, NJ, 07662. The asset spans 105,000 square feet and was sold for $17,800,000. It is a five-story building that accommodates various tenants, including the Bergen County Board of Social Services and St. Joseph’s University Medical Center.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $17,800,000.00
- Address: 218 Nj-17, Rochelle Park, NJ, 07662
- Market: Rochelle Park
- Seller's Representative: Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso & Seth Zuidema - Cushman & Wakefield
- Buyer: Undisclosed
- Square Footage: 105,000
The transaction was facilitated by Cushman & Wakefield, with five representatives working on behalf of the seller, GHP Office Realty LLC. The buyer's identity remains undisclosed, highlighting the private nature of this transaction.
On the Map
$17,800,000
$169/SF
Office
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Players
Rochelle Park 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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93