CBRE Brokers Sell Parsippany Office Building For $4.9M
299 Cherry Hill Road, Parsippany, NJ 07054
$4,900,000
$57/SF
Building Size
85,000 SF
Asset Type
Office
Closing
Jan 13, 2022
AI
A 85,000 square foot office property located at 299 Cherry Hill Road in Parsippany, NJ has been sold for $4,900,000. The property was listed for sale and was purchased on 01/13/2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $4,900,000
- Square Footage: 85,000 SF
- Price per Square Foot: $58
- Address: 299 Cherry Hill Road, Parsippany, NJ
- Market: Parsippany, NJ
The sale was facilitated by CBRE brokers Charles Berger, Mark Silverman, Elli Klapper, and Thomas Mallaney. They represented the buyer and seller in the transaction.
Players
Parsippany 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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93