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3 Paragon Dr, Montvale, NJ,...

Northeast Capital Group Purchases 3 Paragon Dr In Montvale With Seller's Reps Joseph Garibaldi And Katelyn Borovsky
SOLDOffice

Northeast Capital Group Purchases 3 Paragon Dr In Montvale With Seller's Reps Joseph Garibaldi And Katelyn Borovsky

3 Paragon Dr, Montvale, NJ, 07645

Building Size

93,916 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

A 93,916-square-foot office building located at 3 Paragon Drive in Montvale, NJ, has been sold. The property is currently occupied by global R&D firm Pentax Medical, contributing to its appeal in the market.

Summary of transaction details:

The transaction involved key representatives including Joseph Garibaldi, Thomas Walsh, Stephen Feinberg, and Katelyn Borovsky, all of whom represented the seller, The Davis Cos. JLL played a significant role in arranging the sale.

Players

Thomas Walsh

Colliers

Broker

$197.1M

vol

6 deals

Broker
NG
Northeast Capital GroupBuyer

Montvale 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93