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218 Nj-17, Rochelle Park, N...

Rochelle Park Property Sold For $17.8 Million With Seller's Reps Andrew Merin Frank Costa III Gary Gabriel
SOLDOffice

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

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:

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.

Players

Andrew Merin

Cushman & Wakefield

Broker

$3.1B

vol

35 deals

Broker
Viewpoint Advisors
Viewpoint AdvisorsBrokerage

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