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:
- Property Type: Office
- Transaction Amount: Undisclosed
- Address: 3 Paragon Dr, Montvale, NJ, 07645
- Market: Montvale
- Seller's Representatives: Joseph Garibaldi (Walker & Dunlop), Katelyn Borovsky (JLL)
- Buyer: Northeast Capital Group
- Seller: The Davis Cos.
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
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