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:
- 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.
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